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December 3, 2022

Accounting News Roundup: Fewer Going Concern Warnings; Thomas Piketty’s Richest Fan; Barriers to Confidence | 01.05.14

Study: ‘Going Concern’ Letters on Decline, But That May Not Be Good [CFOJ]
Uh oh: "Audit Analytics estimates that 2,384 companies received “going concern” warnings for the 2013 fiscal year. That’s nearly a  6% drop from 2012. However, 207 companies that received such warnings in 2012 filed terminations and no longer exist. 'That’s not a good thing…you figure there’s some kind of economic pressure on companies,' said Donald Whalen, director of research at Audit Analytics. 'You get a mixed bag if you just simply look at the number of going concern [warnings].' "

Paul Simon cleared of having to pay man who scammed him and other celebrities [NYDN]
Ken Starr, convicted Ponzi schemer to the stars, tried suing him from prison.

Piketty Says Gates Loves His Book While Disagreeing on Tax Plan [Bloomberg]
Bill Gates got the the Capital in the Twenty-First Century author to concede a bit: "
I think he sincerely believes he’s more efficient than the government, and you know, maybe he is sometimes."

Too cold for a film tax credit trial? [Tax Update]
A couple of snow birds left Iowa for the winter and that's going to delay the re-trial of a filmmaker who's accused of fraud. 

Lawsuits need not apply. 

Alston & Bird Atty Can Stay In Contact With Fainting Plaintiff [Law360]
The woman is suing Grant Thornton. 

Overcome the Eight Barriers to Confidence [HBR]
Including: over-confidence. "Over-confidence is the bane of economies (e.g., the irrational exuberance that preceded the global financial crisis), corrupt leaders (who assume they’re so necessary that they won’t get into trouble for a small expense account fudge), or individuals who swagger and feel entitled to success rather than working for it. Arrogance and complacency lead to neglect of the basics, deaf ears to critics, and blindness to the forces of change — a trap for companies as well as individuals."

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