Accounting News Roundup: FYI, SEC: China Always Wins; Really, Really, Really Rich Will Pay Most of the 3.8% Investment Tax?; EY Wants a Better Working Wichita | 02.10.14

The SEC shouldn't forget that Beijing always wins [CER via Paul Gillis]
We're playing right into their hands! "China's regulators were never enthusiastic about US investors buying into mainland companies. In fact, the government still imposes strict rules that attempt to stop companies in sensitive industries from listing abroad (the companies have figured out ways around those rules). Should a suspension of the Big Four’s China affiliates result in delistings in New York, Beijing will happily welcome the firms back to the mainland." 

Senate panel to question Deloitte, state officials on IT contracts [BG]
Don't mess with Mass! "State Senator Cynthia Stone Creem, a Newton Democrat and chairwoman of the Post Audit and Oversight Committee, said she has invited Deloitte officials to answer questions about system shortcomings that they did not address in a prior hearing. […] Creem said Michael Marino, a Deloitte consultant and lobbyist who oversaw the firm’s Massachusetts work, is expected to testify. Marino was scheduled to appear before the committee’s first hearing in October, but he had been relocated by the company to Raleigh, N.C. Instead, Mark Price, a Deloitte principal, told the committee that the state’s unemployment system was 'a successful working system.' Creem said Thursday that she called Marino back to testify because the 'banter of everything’s great didn’t really fly. We knew everything wasn’t great.' "

Careful, You File Taxes Under Penalties Of Perjury, They're Not An Opening Offer [Forbes]
Robert Wood writes that for every stripper deducting her breast implants as a business expense and every cat lady cat deducting food as a charitable deduction, "you’ll find more losers."

Pick up the slack, poor people!

Ernst & Young hiring for Wichita ramp-up [WBJ]
Considering the size of the office, there *is* some growth going on: "Certified public accounting firm Ernst & Young LLP will be hiring again this year as the firm ramps up its Wichita operations. Managing Partner Ginger Farney says she plans to hire seven or eight new people this year for all levels of tax and assurance personnel. Ernst & Young has 28 employees in Wichita now. Over the next couple years, the firm hopes to push its employee count closer to 40."

'Dumb Starbucks' mystery: Who's behind the faux coffee front in Los Feliz? [SCPR, photo: Frank Stoltze]
Apparently there was a one-hour wait yesterday. 

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