Accounting News Roundup: Barry Salzberg’s Alter Ego; Caterpillar Still Digging; IRS Impatient with O.J. | 01.28.13

Interview: Deloitte deputy chief executive Brian Derksen [FT]
It was in Durham, North Carolina, that Derksen made the rather startling leap from ice hockey to accounting, via an MBA from Duke University’s Fuqua School of Business. Now, amid the sombre grey tones of his New York office, Derksen, 61, is every inch the polished corporate executive. As deputy chief executive of DTTL, the parent company of an array of Deloitte-branded audit, consulting, advisory and tax subsidiaries, he has to be. “There are a lot of things which require a CEO’s attention but he [Barry Salzberg] can’t get to it. I operate sort of as his alter ego,” explains Derksen.

Caterpillar Still Investigating Chinese Accounting Discrepancy [BBW]
“We are not done,” the company said. “We are putting in more effort to finish our investigation as we consider all our options to recover our losses and hold those responsible accountable for their wrongdoing.”

Emory Williams 'Shocked' by Caterpillar Allegations [WSJ]
The former chairman of a Chinese machinery maker acquired by Caterpillar Inc. CAT +2.36% said he was "shocked" by the U.S. company's allegations that accounting misconduct took place before the deal closed. Emory Williams, the former chairman of ERA Mining Machinery Ltd., said in a statement on Monday that he was surprised by Caterpillar's decision to write down the roughly $700 million it paid in June for ERA by $580 million. ERA's main business was a mining equipment maker named Zhengzhou Siwei. "We were especially surprised by this situation as we cooperated very closely with the Caterpillar team during their extensive due diligence," Mr. Williams said, in the first public statement since the Peoria, Ill., machinery maker said Jan. 19 that it had found "deliberate, multiyear, coordinated accounting misconduct" at Siwei.

E&Y managing partner issues riposte to tax avoidance critics [Accountancy Age]

Politicians should "stop banging on about morality and change the law" on tax avoidance, according to Ernst & Young's managing partner for Europe, Middle East and Africa Mark Otty. Responding to calls for businesses to "pay their fair share", Otty said a moral code is unlikely to work given that they have a duty to pay the lowest rate permitted.

Not-So-Happy Anniversary, XBRL [CFO]
Four years after the Securities and Exchange Commission mandate, it turns out that not many people are using data provided by XBRL tagging. And those who have tried are not giving it rave reviews.

IRS to O.J. Simpson: Seriously, You Need To Pay Your Taxes!!! [TMZ]
According to a federal lien filed in December, O.J. failed to cough up $17,015.99 in taxes for the year 2011. This makes for the THIRD lien filed against him in the last 12 months.  As TMZ first reported, Uncle Sam filed a lien for $179,435.07 for the years 2007-2010 and the State of California says he still owes $318,566.04 for the year 2000. Tax debt total = $515,017.10. 
 
The Right Way to Give Your Boss Bad News [HBR]
Since this may happen at some point.
 

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