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December 5, 2022

Accounting News Roundup: POTUS and VPOTUS Releasing Tax Returns; CalPERS Needs a CFO; Consensus on the Buffett Rule | 04.13.12

Obamas and Bidens to Release Tax Returns [NYT]
Punctuating a week of political assaults on Mitt Romney over taxes, President Obama and Vice President Joseph R. Biden Jr. plan to release their own income tax returns on Friday, along with a statement calling on Mr. Romney to do the same, according to an Obama campaign official.

China Could Jail Employees Over SEC Subpoena, Deloitte Says [CC/WSJ]
Deloitte & Touche Tohmatsu Ltd. said Wednesday that if the Securities and Exchange Commission forces it to respond a subpoena requesting documents from its Shanghai unit, its employees in China could face jail time and the unit could be dissolved by Chinese authorities.

Former Lehman CFO Lowitt Said to Leave Barclays Wealth Unit [Bloomberg]
Ian Lowitt, who served as chief financial officer of Lehman Brothers Holdings Inc. in the months before its 2008 collapse, is leaving Barclays Plc (BARC), a person with direct knowledge of the move said. Lowitt, 48, had joined Barclays when the London-based bank bought Lehman’s U.S. securities business through a bankruptcy auction in 2008. At Barclays, he was chief operating officer of the wealth and investment management division in the Americas.

CalPERS Seeks Chief Financial Officer [FINalternatives]
Wanted: Experienced chief financial officer to oversee $235 billion pension fund.
Raising Taxes on the Rich [TaxVox]
Howard Gleckman moderated a panel yesterday that has some bad news for the White House: "[T]he only thing the panelists agreed upon was that the Buffett tax is a terrible idea."
Japan market watchdog recommends $2.5 million fine for Olympus [Reuters]
Japan's market watchdog on Friday recommended the Financial Services Agency (FSA) fine Olympus Corp (7733.T) about 200 million yen ($2.5 million) for false accounting in one of the country's biggest corporate scandals. The recommendation, made by the Securities Exchange and Surveillance Commission (SESC), was expected as part of legal procedures and comes after prosecutors last month charged the company and six key figures in the $1.7 billion accounting fraud. 
Printed Hermes tie gives accountant’s look some whimsy [TS, Earlier]
Accountant style, north of the border.
This Video Of A Corgi Being Vacuumed Is Guaranteed To Ward Off Evil Spirits [Gawker]
Have a lucky day.


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