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November 30, 2022

Accounting News Roundup: Audits Are Getting Audity-ier; Leave the IRS Alone!; Teaching Business Ethics | 01.14.14

Surprise! Audits Dig Deeper [WSJ]
It appears those dodgy inspection reports are getting people motivated: "This year, financial executives say their external auditors are requesting far more documents and details than usual on everything from pension assets to management reviews. As companies rush to close their books on 2013, they say these new and unanticipated demands are adding time, cost, and confusion to the audit process. The more rigorous audits are in reaction to an alert from the government's accounting watchdog. In October, the Public Company Accounting Oversight Board warned that it had found "high levels of deficiencies" in audits of internal controls."

Stop Beating On The IRS [Forbes]
Martin Sullivan would like Congress give some practical thought to the IRS, to which I guffaw vomit into my mouth: "If Congress wants lower taxes and a simpler tax code, it should legislate to those ends. But once it has decided on what the law should be–like it or not–we need an agency that enforces the law fairly. Instead of scoring easy political points with budget cuts and endless public castigation, Congress should roll up its sleeves and start thinking of ways to help the IRS achieve its mission."

Can you teach businessmen to be ethical? [WaPo]
Sure! Just take money out of the equation. 

McGladrey Appoints a New Partner [AT]
James Norfleet is his name. Auditing is his game.

Iran's President Twitter-Trolls America Like He's Evil Carmelo Anthony [Gawker]
The "evil" is unnecessary, isn't it?

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