Accounting News Roundup: Rich People Tax Problems; Big 4 Mad Men; Secret PCAOB Investigations Protects Bad Auditors | 11.08.13

Strategic moves [Economist]
The Economist gets all smarty pants on auditors acquiring consulting shops. 

Higher Tax Rates Give Top U.S. Earners Year-End Headaches [Bloomberg]
Shucks. That's too bad.

Thanks to audit firms, Math Men are taking over Madison Avenue [Quartz]
Someone else noticed the two acquisitions by Deloitte and PwC in the past month or so.

Bad auditors protected by bad law [China Accounting Blog]
Paul Gillis blames the secrecy of PCAOB investigations for allowing Sherb & Co. and Patricio & Zhao to continue doing shoddy audits of Chinese reverse mortgage companies. The SEC stepped in first and now the PCAOB looks bad. Very, very bad.

This guy went in orange face for his fraud presentation.

Taxpayers close to breaking even on Fannie Mae, Freddie Mac bailout [Reuters]
I guess we'll take it.

FASB proposes eliminating “development stage entity” distinction [JofA]
I'm sure it's harmless.

University physicists study urine splash-back and offer best tactics for men [Phys.org]
Give it a try today, gents.

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