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January 30, 2023

Accounting News Roundup: BDO Big Audit Winner in 2014; Big 4 Business Model Post-Overtime Settlement; Telling Employees to Stay Home | 02.27.15

BDO Sweeps 2014 Audit Clients [AT]
Two years in a row Bravo Delta Oscar has snagged the most new SEC audit clients. They increased by net 40, with 54 total new engagements. Here's Wayne Berson: "Organically, we added 39, and by expansions we added 15. So even if you back out the expansion-related additions, we would have comfortably maintained our position."

PwC’s California Overtime Case Settles But The Big Four Business Model Will Change Anyway [Medium/Francine McKenna]
DID YOU KNOW: Both Bob Moritz and Dennis Nally were on the witness list. Plus, there's this: "The largest public accounting firms like the 150-hour rule because a Masters degree program may meet the requirement of the legal decision points for exempt vs. non-exempt in overtime litigation against the firms. (Per my sources, the Big Four firms have begun to insist on Masters degrees as a condition of recruiting at more and more university accounting programs.) That’s because if, for example a job requires an extended course of specialized study like law or medicine, it may be considered a “learned” profession, and often automatically considered exempt from overtime."

U.S.’s New Fraud Chief Will Enforce Laws He Was Paid to Blunt [Bloomberg]
Andrew Weissman is the DOJ's new man in charge of corporate prosecutions. Mr. Weissman led the task force that investigated Enron, the U.S. Chamber of Commerce was his client while he worked at Jenner & Block and he's spent the last few years as General Counsel at the FBI. 

Gilead Avoids Billions in U.S. Tax on Its $1,000-a-Pill Drug [Bloomberg]
The intellectual property for its Hep-C treatement, Sovaldi, is located in…wait for it…Ireland.

Deloitte's tech hiring in Orlando rapidly nears 500 [OS]
That's halfway towards their goal of 1,000 for the new IT center located in Heathrow.

When to Tell Your Employees to Stay Home [HBR]
It's not always an easy answer.

What color is this dress? 
Blue and black is the correct answer (although I think it's more of a gun metal grey).

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