Please ensure Javascript is enabled for purposes of website accessibility
September 27, 2023

Accounting News Roundup: PwC Settles Petrobras; Deloitte Sued Over Steinhoff; Tax Acrobatics | 02.05.18

The face we’re all making because Chris Hemsworth, Danny McBride, and Paul Hogan won’t be in a movie together.

Deal with PwC brings Petrobras investors’ recovery to $3 billion [Reuters]
PwC’s Brazilian firm agreed to settle for $50 million. “We were keen to put this protracted legal matter behind us, and a settlement was the best way to achieve this,” a spokeswoman said.

Shareholders bring lawsuit against Steinhoff and Deloitte [Accountancy Age]
Shareholders from all over the world are eligible to join the lawsuit that’s being brought in the Netherlands.

Here’s the Trump Tax Loophole Your Accountant Can Blow Wide Open [Bloomberg]
This isn’t the first article about the acrobatics tax lawyers and accountants will use to qualify for the 20 percent deduction for pass-through businesses, and it’s unlikely to be the last. “You have to be careful. There are people out there who come up with hare-brained ideas,” a UHY principal said.

Tax Reform’s Success Hangs On Capex, Expert Says [CFO]
Georgia Tech Professor Charles Mulford says that these bonuses that companies are announcing are not going to cut it. “If companies don’t shift substantial amounts of their capital allocation from share buybacks and dividends to investments in plants and equipment, ‘then this whole big plan of what tax reform was supposed to do is not going to work.'”

Previously, on Going Concern…

Grant Hutchinson wrote about Chattanooga, Tennessee, the accounting job market’s best-kept secret.

In Open Items, someone is “In a bit of a career pickle.”

From the archives: Diligent CPA Exam Candidate Bamboozled By Cute, Low-Quality Swedish Desk

In other news:

Get the Accounting News Roundup in your inbox every weekday by signing up here.

See something we missed? Have a tip, correction, comment, or complaint? Email us at [email protected].

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Funny white cat-an athlete in a yellow sports headband, lying with yellow footballs, dumbbells and a yellow alarm clock standing nearby.

Monday Morning Accounting News Brief: PwC Is Turning Work Down?; TIL the President of Nigeria Worked at Deloitte | 9.11.23

Yay it’s Monday again! Praise Pacioli, there’s actually some stuff going on this morning. Meet a 29-year-old accountant whose ‘resentment’ only climbed after her firm raised her salary from $60k to $90k as she made millions for them. She has her own firm now: Stephanie Heredia’s promotion came a year too late and more than […]

Tuesday Morning Accounting News Brief: Getting Roofied at KPMG?; PwC: ‘Burnout Should Be a Concern’ | 9.5.23

Good morning and happy Tuesday. Hope everyone had a nice Labor Day, I had a productive weekend of being AFK at Meat Week (get your minds out of the gutter, it’s Fallout). Let’s get right into it. It is suspected someone spiked a colleague’s drink at a KPMG NZ get together, it isn’t the first […]