Please ensure Javascript is enabled for purposes of website accessibility
December 4, 2022

Accounting News Roundup: Grant Thornton and KPMG Do a Deal in Brazil; EY Counting Down to Davos; Another Big Bank Loss | 01.20.14

Ed. note: We're observing Martin Luther King Day so posts will be minimal today. Please enjoy what ANR has to offer and if you need to get something off your chest, jump back to last Friday's Open Items. We'll be back at full speed tomorrow. 

Grant Thornton buys KPMG Brazil arm [Economia]
The "outsourcing arm" has revenues of $5.5 million and consists of 70 professionals. 

Here's a MLK PSA from NASBA: 

The NFL: Big Business With Big Tax Breaks [NPR]
The tax preferences the NFL receives doesn't garner the same attention as covering up brain damage suffered by players, but the coverage of the issue manages consistent traction thanks to Tom Coburn (R-OK). Too bad no one wants anything to do with it: "The people who want to roll back the favors to the NFL are having a hard time finding allies. After four months, Sen. Coburn has only one co-sponsor for his bill, and he can't even say who it is."  

Deutsche Bank Posts Loss on Legal Costs, Accounting Charges [Bloomberg]
A 1.15 billion euros loss, to be precise. But don't worry, they have a turnaround plan: "Deutsche Bank is putting aside funds to settle probes and lawsuits that include allegations it deceived clients about products linked to U.S. mortgages and that its traders attempted to rig benchmark interest rates. The firm is spending money to improve controls, reduce headcount and move staff to cheaper locations as part of a plan to increase profitability."

The EY! reps are getting their Davos game faces on.

KPMG faces probe into Co-op Bank accounts [Telegraph]
It seems that Co-op had a 1.5 billion GBP capital shortfall and the FRC would like to know how that happened.

Meanwhile, Deloitte keeps us updated on the important things:

Man wins $862K for tripping at IRS audit [NYP]
William Berroyer was just trying to settle his $60k tax bill when things took a turn for the worse and he tripped over a phone cord: "I really can’t say whether I hit it with my shoulder, hand or elbow, but I broke my fall on the cabinet." He spent 17 days in the hospital and there were other side effects: "Berroyer claimed he and his wife had sex several times a week before the injury, but could manage only a single monthly session after the accident."

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]