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November 27, 2022

Accounting News Roundup: KPMG’s Female Partners; Andersen Makes a Comeback (Sort Of); Another Case of PwC’s Squishy Indpendence | 09.02.14

KPMG boosts ranks of female partners [FT]
52 new partners, 29 promotions and 23 hires, in the UK.

Tax Firm to Revive Arthur Andersen Name [WSJ]
Wealth & Tax Advisory Services (aka WTAS) has purchased the rights to the Andersen name: "Former Andersen employees 'have been going around with a scarlet letter "A," ' says Mark Vorsatz, the former Andersen partner leading the charge. 'We're going to make that A stand for Andersen.' "

Auditor Independence: Another Case of Misplaced Loyalty [Re:TheAuditors]
Francine McKenna writes about an unlicensed senior associate who testified on behalf of PwC in Kress v. PricewaterhouseCoopers: "Ryan Adams, describes as what is expected of PwC audit associates, too. Adams describes similar “attention to clients” in a voluntary declaration in 2012 in support of PwC and in opposition to class certification in the class action overtime lawsuit Kress v. PricewaterhouseCoopers. […] Ryan Adams now works as a financial reporting executive for a PwC audited Nasdaq-listed public company, Marin Software. […] Adams’ participation in this class action lawsuit, in support of PwC’s defense against it, presents a serious auditor independence violation, for his company and for PwC."

PwC giving away stuff at Ohio State today.

New York Set to Accuse Evans Bank of Redlining [DealBook]
That is, preventing minority neighborhoods from obtaining for mortgages. Eric Schneiderman is on it: "The investigation was expected to reach its first target as early as Tuesday, the people said, with Mr. Schneiderman’s office taking aim at Evans Bank, a regional lender whose business in the Buffalo area dates to 1920, accusing it of denying mortgages to African-Americans regardless of their credit. The case, expected to accuse Evans Bank of violating the Fair Housing Act — a federal law intended to ensure equal access to credit — is a harbinger of other lawsuits that could be brought against some of the nation’s largest banks, several people briefed on the investigations said."

Parents Allegedly Planted Drugs in Rival PTA Member's Car [Gawker]
Far more interesting than your kids' school.

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