David Sproul named new chief executive of accountants Deloitte [Telegraph]
David Sproul, who was appointed UK head of tax at the Big Four firm in 2006 and is a member of the executive board, will succeed John Connolly in June next year.
Mr Connolly has been as the firm’s top accountant for more than a decade and his tenure has seen Deloitte rise up the ranks to become second only to PricewaterhouseCoopers in terms of revenue. Mr Connolly is credited with having transformed the group, with profits tripling during his time.
Estate-Tax Passage Is Likely [WSJ]
It’s a Festivus miracle! “The estate tax has emerged as a focus of Democrats’ anguish over the tax deal hashed out between President Barack Obama and Republicans. But the protests appear unlikely to derail the compromise in Congress.
Notably, Democratic support for the estate-tax provision appeared stronger in the Senate, particularly among incumbents facing re-election in 2012, than in the House.”
Modesti, PCAOB Director of Enforcement and Investigations, Calls For More Transparency [RTA]
Francine highlights the, er, highlights of Modesti’s remarks from yesterday.
Majority of Americans Say Fed Should Be Reined In or Abolished, Poll Shows [Bloomberg]
“The Fed had to do extraordinary things to keep us from going into a great depression, and the public doesn’t see it this way,” said Lyle Gramley, a former Fed governor who is now senior adviser at Potomac Research Group in Washington. “The last time we had any really severe criticism of the Fed was in the early-1980s, when the Fed was pursuing this brutally tight policy to keep inflation under control.”
Howard Stern Changes Tune on Sirius CFO: ‘David Frear is OK With Me’ [The Wrap]
After some reactionary measures, the King of All Media actually read the transcript of the remarks and decided that the Sirius CFO isn’t a bad guy.
Gov.-elect Snyder talks up accounting credentials [CT]
If a CPA can fix Michigan, look out. Presidency next! “Wayne State University’s School of Business Administration and Department of Accounting will host the Ann Arbor executive, entrepreneur and first certified-public accountant to be elected governor of Michigan.
Snyder’s talk Thursday afternoon is expected to focus on how his accounting skills will be important as he works to improve the state’s struggling economy. He’s also scheduled to recount his journey from the private sector to the precipice of the state Capitol.”
ParenteBeard Merges with Local Philly Firm [AT]
ParenteBeard picks up Huntingdon Valley-based Pressman Ciocca Smith in a deal that was effective December 1.