Accounting News Roundup: Koss’ Suit Against Grant Thornton Will Proceed; Number of Women CFOs Doesn’t Budge; Senators Ask IRS to Clarify Rules for Same-sex Couples | 06.23.11
Koss suit against former auditor to proceed [MJS]
Koss Corp.’s lawsuit against the company’s former auditor, Grant Thornton, will move forward in Cook County, Ill., according to a ruling from a judge in Chicago this week. Koss accuses Grant Thornton of gross negligence for not uncovering the $34 million embezzlement by its former vice president of finance. Sujata “Sue” Sachdeva is serving an 11-year sentence in federal prison for the crime, which came to light in December 2009 when American Express notified Koss of the fraud.
New York’s Schumer Gives ‘Newfound Life’ to Tax Holiday Sought by Apple [