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December 1, 2022

Accounting News Roundup: Bob Moritz’s Worklife Balance; EY Offered Paternity Leave Before It Was Cool; An Impressive Tax Evasion Scheme | 07.02.14

We Asked a Male Executive How He Balances Work and Family [WSJ]
PwC's Bob Moritz, to be precise. 

129 remain in police custody after more than 500 arrested in overnight protest in Hong Kong [SCMP]
No word on the number of Big 4 employees included in that number. 

Why Ernst & Young Believes So Strongly In Paid Paternity Leave [BI]
It seems EY is the hipster of paternity leave: "Ernst & Young introduced its paternity leave policy 12 years ago. The accounting giant offers two weeks of paid leave to all new fathers, and up to six weeks for fathers acting as the primary caregiver. While tech companies like Facebook and Yahoo have attracted attention in the past few years for offering extremely generous paid paternity leaves — four months and two months, respectively — EY started offering the benefit long before there was a public demand for it."
 
Oregon gives Deloitte $18.4 million contract to oversee federal exchange hookup [OregonLive]
Beating out the likes of Accenture and KPMG.
 
EY appoints record number of new partners [FT]
Oddly, assurance had the most growth: "Across different service lines, the largest volume of new partner numbers was in assurance, with 37 per cent, followed by tax, which recorded an increase of 27 per cent and advisory, which grew by 24 per cent. Women made up 26 per cent of the new promotions and two have been appointed to the firm’s global executive board."
 
US turning the screws on tax cheats [The Hill]
Your offshore accounts are no longer safe: "Sweeping rules aimed at stopping tax evasion took effect on Tuesday, ushering in a new system that Obama administration officials say will leave tax cheats with fewer havens overseas. The Foreign Account Tax Compliance Act, one of President Obama’s key initiatives for fighting offshore tax evasion, is arriving after multiple delays, and roughly 18 months later than originally planned."
 
San Diego CPA convicted in elaborate tax evasion scheme [CBS8 via Tax Update]
How elaborate was Lloyd Taylor's scheme? This elaborate: "According to evidence presented at trial, Taylor, who has been in custody since April 2013, stole the identities of deceased minors, used them as aliases and obtained fraudulent passports and other identification papers. He then used the bogus documents to open and maintain financial accounts in order to hide his income from the IRS and to transfer funds from those accounts to purchase various assets, such as gold coins, accorsding [sic] to prosecutors. Likewise, Taylor formed more than a dozen fraudulent tax-exempt religious institutions and opened 31 related bank accounts, including investment accounts in the names of the phony churches, so his income could grow tax-free, according to the U.S. Attorney's Office in San Diego."

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