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December 8, 2022

Accounting News Roundup: More on Andersen; KPMG Gives Ventas the “All Clear”; Pro-Sports Leagues’ Nonprofit Status | 09.05.14

Arthur Ashes [Reuters/BreakingViews]
What's in a name? Francine McKenna writes that "it is unrealistic to think the Andersen banner can reliably promise accountability again."

Ventas Re-Audit by KPMG Completed With No Changes to Previous Results [Dow Jones]
Auditing goes back to being not sexy: "KPMG LLP audited Ventas's 2012 and 2013 figures after Ventas said in July that it dismissed Ernst & Young 'as a result of an inappropriate personal relationship' between an Ernst & Young partner and Ventas's chief accounting officer. Ventas said Thursday that KPMG affirmed the effectiveness of its internal controls. The company has filed an amended 10-K with unchanged financial statements."

Chamber to intensify tax reform efforts [The Hill]
Oh, the U.S. Chamber of Commerce is ON IT? That's a relief.

Is It Time to Repeal The Corporate Income Tax? [TaxVox]
This reeks of hope: "
The good news is that while Congress dithers over whether or not to restore a bunch of expired and  largely discredited tax breaks, policy wonks are chewing over some truly ambitious ways to fix the corporate code. And who knows, maybe by the time we have a new president and Congress in 2017, one of those ideas will have gotten some traction."

Should Pro-Sport Leagues Get Tax Breaks? [NYT/Room for Debate]
It seems a little strange when a nonprofit executive gets paid $44 million.

Starbucks to Launch Express Stores [WSJ]
Because no one wants to wait long for a rush!

How Not To Be An Asshole When You Fly [FlightClub/Jalopnik]
It's easier than you think!

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