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February 2, 2023

Accounting News Roundup: McGladrey Whistleblower Says Audit Sucks; EY’s New BFFs; What’s the Cloud? | 01.16.15

McGladrey whistleblower claims Deepwater Horizon audit deeply flawed [The Louisiana Record]
The whistleblower, who appears to have filed an anonymous internal ethics complaint in the matter, said the audit entered into the court record in the Deepwater Horizon case in November has very little acceptable data to back up its assertion that damage claims are being paid accurately and to the appropriate people.

EU slams Luxembourg for helping Amazon with taxes [CNNMoney]
The European Commission is looking into it.

Ok new hires. What office noob thing(s) have you done so far? [Reddit]
Someone apparently got trapped under a cabinet, while another burned himself with hot coffee. Good times.

Xero seeks US boost with new platform [The New Zealand Herald]
Debunk this: "Recommendations by accountants to their clients had been an important way for the NZX-listed company to increase its global customer base. But concerns about litigation in the US meant accountants there tended not to provide such general business advice, and they also had less exposure to cloud computing."

John Lithgow Joins Ben Affleck On ‘The Accountant’ Ledger [Deadline Hollywood]
Forgive us, but we're still trying to figure out how an accountant finds the time to moonlight as a hit man. And does he bill his hits by the hour?

EY expands collaboration with IBM to support clients’ adoption of big data, analytics and enterprise solutions [EY]
From the mouths of babes: “We believe there is immense value for our clients from the relationships we forge with market leaders like IBM. The result is proven skills, IP and innovation that are critical to our clients and the services we deliver. This strategic relationship with IBM also supports our Vision 2020 growth strategy. By combining analytics with our business acumen, EY can help deliver the transformational change that clients’ demand as they look to innovate and grow their businesses.”

Fewer and Fewer Students Are Applying to Law School [WSJ Law Blog]
Someone was asking about this the other day.

FBI Agent Shot Up Evidence Against Hundreds of Heroin Dealers: Report [Gawker]
Basically, the FBI has terrible internal controls.

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