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September 25, 2023

Accounting News Roundup: PwC Appeals India Ban; Blockchain Names; Flying Cars and Sales Tax | 01.26.18


PwC appeals two-year ban on audits in India [AT]
The Securities Exchange Board of India banned PwC from auditing public companies earlier this month over the firm’s failure to detect the fraud at Satyam Computer Services. The appeal is expected to be heard by the end of February.

PCAOB Board Statement on Passing of Former PCAOB Chairman William McDonough [PCAOB]
Mr. McDonough was the first chairman of the PCAOB, serving from June 2003 to November 2005. Before leading the PCAOB, he served as the President of the New York Fed from 1993 to 2003. He was 83.

SEC warns against public companies adding blockchain to their name [TechCrunch]
In a speech, Commission Chairman Jay Clayton issued a bit of a warning to companies thinking about hamfisting “blockchain” into their business name: “The SEC is looking closely at the disclosures of public companies that shift their business models to capitalize on the perceived promise of distributed ledger technology and whether the disclosures comply with the securities laws, particularly in the case of an offering.”

Futuristic Flying Cars Fraught with Sales Tax Implications [BNA]
SALT professionals who’ve been sitting around thinking about the different treatment of purchases of motor vehicles and airplanes know there’s a lot of work to be done if we’re going to have flying cars one day. Of course, if we can’t get South Dakota v. Wayfair right, do we really deserve flying cars?

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The featured job of the week is a Corporate Auditor with PulteGroup in Atlanta, Ga. They’re looking for someone with 2-5 years of public accounting audit or advisory and SOX compliance experience.

Previously, on Going Concern…

What Do We Think Is Going Through KPMG CEO Lynne Doughtie’s Mind During This Interview?

From the archives: How Will Your Team Air Its Grievances This Busy Season?

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