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Accounting News Roundup: A Clucked Up Audit; Audit Committees Still Worried; CPA No More | 02.13.15

Utah Firm Settles SEC Accounting Case Over Chinese Poultry Company [WSJ]
A Utah accounting firm and one of its partners agreed to pay a total of more than $130,000 to settle Securities and Exchange Commission allegations that they botched the audits of a chicken company based in China that itself faces allegations of fraud. Child Van Wagoner & Bradshaw PLLC of Salt Lake City, Utah, and its partner Russell E. Anderson agreed to pay a total of $90,506 in disgorgement and interest, and Mr. Anderson agreed to pay a $40,000 fine, according to a settlement order filed Wednesday.

Cookeville accountant's CPA license revoked [Herald-Citizen]
A local accountant who self-reported his actions of misappropriating funds while serving as a non-profit organization’s treasurer now has his license revoked after failing to follow the payment schedule.

Tweeting and driving? Tsk tsk [Twitter]

Statement on Passing of Former SEC Commissioner Harvey J. Goldschmid [SEC]
A moment of silence is in order: "Harvey was an accomplished man of considerable talents who touched many lives throughout his illustrious career. His dedication to Columbia University School of Law and its students was inspiring. He was a true public servant, whose commitment to this agency lived long past the days he spent working here. The SEC mourns the loss of one of its own. Our thoughts and prayers go out to Harvey’s family and loved ones."

5 Key Takeaways from KPMG’s “2015 Global Audit Committee Survey” [AccountingWEB]
Audit committees still be trippin.

China Launches Crackdown On Dating Sites, Citing Fraud and Prostitution [WSJ]
Earlier this week, China’s official news agency Xinhua reported that the Cyberspace Administration of China released a statement saying fraud is rampant on online dating platforms and has become a “public nuisance to millions of users.” The statement also said prostitution would be targeted and that dating sites must enforce real-name registration, and that “accounts failing to register with real names must be closed.”

Why Are The Feds Obsessed With Seizing These People's Old Trucks? [Jalopnik]
No, not back taxes owed.

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