September 25, 2022

Accounting News Roundup: EY’s Hiring and Trump’s Accountant Deserves the Credit | 10.05.16

EY is hiring, everyone

Every fall, Big 4 firms go on a publicity blitz to remind the world that they are open for business and will be hiring lots of people over the next year. Ernst & Young, for its part, is planning to hire a small army, pegged at 15,200 jobs, in every imaginable service area:

In a statement, EY said that it planned the robust hiring “due to strong demand for its services in today’s shifting business and economic landscape.” It expects the biggest areas for hiring experienced recruits will be advisory and tax practices, with cyber-security, data analytics, digital, health care consulting and human capital consulting among the hotter areas.

Assurance is noticeably absent, but I'm sure the opiners group is holding its own. If you auditors are feeling underappreciated, don't worry, we're only one massive independence meltdown away from you being back on top!

Accountants don't get any respect

In the wake of the New York Times report that showed his tax returns with a $916 million net operating loss, Donald Trump's spin was something to the effect of "Look how smart I am, people. Believe me, I am a genius. I am very, very, very beautiful and smart and I know the tax code better than anyone. ANYONE. Believe me."

One person who doesn't believe him, naturally, is the accountant who prepared those tax returns, Jack Mitnick:

“I did all the tax preparation. He never saw the product until it was presented to him for signature,” Jack Mitnick told Inside Edition on Tuesday.  

“I’m the one who did all the work,” he continued and accountants everywhere feel your pain, Jack.

Accountants behaving badly

While the IRS was investigating Benjamin Guidry for some criminal activity related to "claiming inflated income tax refunds for unknowing clients, then keeping the extra refund money for himself," they found something else. Something disturbing:

After Guidry's computers were seized in May 2015, an IRS computer specialist found a folder filled with videos, some encrypted and some with suspicious titles such as  "15yo and 9yo girl neighbor," according to court documents. The FBI got involved in the case.

The accountant's cellphone revealed conversations with a female minor in which Guidry offered Taylor Swift tickets in return for "cuddling topless" and letting him "love on you." A sexual video of that female minor had objects that were found in Guidry's home, which he shared with his common-law wife.

Another video dating from 2014 showed an adult male believed to be the accountant sexually assaulting the same girl, then in 9th or 10th grade, who appeared to be drugged and said, "Stop" and "I'm being raped." Agents found pain drugs in Guidry's car.

Agents found 164 images and 31 videos of child pornography on this creep's phone and hard drives. And now I'm left wondering why would someone committing tax crimes keeps child porn around, but also, what sort of pervert also commits brazen tax fraud? Guidry pleaded guilty and faces 65 years in prison.

Elsewhere: Former IRS employee and owner of tax business pleads guilty to tax evasion

Has Donald Trump released his tax returns?

Nope! And his son Eric says that they would create a distraction, presumably from the distraction-free campaign that his family has been running for the past 15 months.

Previously, on Going Concern…

Chris Hooper made the argument for more accountants to start businesses. I settled the question of whether accounting firms should allow employees to wear shorts.

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