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December 5, 2022

Accounting News Roundup: Deloitte Dumps Tianhe Chemicals; Pope Francis Dabbles in Tax Policy; Saving in Your 20s | 09.18.15

Deloitte Resigns as Tianhe Chemicals Auditor [WSJ]
Deloitte issued a disclaimed opinion. Tianhe didn't like that: "Tianhe said late Thursday its board had on Tuesday informed Deloitte it wouldn’t accept a draft report the auditor had prepared, in which the auditor refrained from expressing an opinion on Tianhe’s financials."

U.S. Appellate Court Puts Hold on Action Against Lynn Tilton [DealBook]
All she wants is a fair trial, according to her lawyer. Her case is one of many challenging the SEC's use of its administrative courts.

The one perk entry-level employees want more than their bosses [BI]
Learnin'! Which is good since, as we've discussed, many people doing the hiring don't think candidates have the right chops. I suppose it's a little ironic that the people doing the hiring are less interested, according to the Robert Half survey, in learning new skills

Pope Francis Weighs In on Tax Policy [TF]
Frank wants churches that engage in regular business activities to pay taxes on their income. This is apparently a problem in Europe while here in the U.S. we have the Unrelated Business Income Tax rules for tax-exempt entities.

If You Have Savings In Your 20s, You’re Doing Something Wrong [ED]
Everyone's worked up about this post from Elite Daily and while the basic premise — money isn't everything — is true, it's terrible advice when you consider the effect of compounding, etc. I feel like these are the types of articles that older partners in CPA firms read and conclude that all Millennials think this way, ergo, are entitled, self-annointed brats who only want to work in coffee shops for two hours a day and then take selfies all day long. Perhaps the author's just trolling everyone, in which case, MISSION ACCOMPLISHED.

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