Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: New COSO Can Wait; The Price Is Wrong; H&R Block = Rodney Dangerfield | 08.21.13

Corporates Not Yet Ready for Internal-Controls Prime Time [CFO]
Since the new COSO doesn't go into effect until December 2014, most companies aren't expecting to adopt it until…the end of 2014.

Study: Tax Credits for Obamacare Expected to Average $2,700 [AWEB]

PwC & Deloitte receive ICAEW sanctions over audit work [Accountancy Age]
PwC "issued three audit reports that had not been signed off by the designated 'responsible individual of the firm' while Deloitte "[allowed] two audit reports to be signed by individual who had not confirmed, in writing, that they abide by the Crown Dependency Audit Rules."

Michael Jackson estate fights U.S. IRS in Tax Court [AP]
Any "image and likeness" valuation experts out there who want to help out the Jackson family should come forward ASAP.

The Price Is Right … and the Taxes Are High [Yahoo]
Yes, prizes are taxable: "After the show, you fill out some paperwork and basically sign your life away. You say that you're going to pay the taxes on it. If you win in California, you have to actually pay the California state income tax ahead of time."

KPMG workers help restore Little Ferry school damaged by Sandy [CliffviewPilot]
65 employees from Montvale, NJ helped get the school ready to open next month.

H&R Block is one of the least respected brands in America. [Bulldog Reporter]
That's unfortunate.

To Simplify, First Clear the Underbrush [HBR]
Some productivity tips Including: Rethink "reply all" and "Stop reviewing low-impact work."

Tax journalist David Cay Johnston is having a rough morning [Twitter]

Conn. clerk injured in David Hasselhoff sign theft [AP]
Connecticut police say a convenience store clerk has been critically injured trying to stop the theft of two signs featuring images of actor David Hasselhoff. Authorities say the 36-year-old clerk at a Cumberland Farms in Shelton saw a man put the signs into an SUV shortly after 1 a.m. Tuesday. Police say the worker was struck and dragged by the SUV and landed on his head. Police say the clerk is hospitalized in critical condition, and authorities are looking for the suspects. The employee’s name hasn’t been released.

Posted in ANR