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January 30, 2023

Accounting News Roundup: SEC and Big 4 Chinese Affiliates Close to Settlement; Accounting Firms Hiring in Charlotte; ATR Sticks Up for Tom Brady | 02.05.15

SEC, Chinese Affiliates of Accounting Firms Near Settlement [WSJ]
The Big 4 would pay $500k each, the 6-month suspension would be tossed and, "a strong framework for the firms to cooperate with the SEC and for the agency to obtain audit documents in the future," would be put in place, according to sources.

Audit Watchdog Faces SEC Over Bid to Name Accountants [Bloomberg]
You definitely get the feeling that the PCAOB is losing its grip on this: "The SEC is telling them, ‘Get back to your core function,’” said Dan Goelzer, a former acting chairman of the accounting board who now is a partner at Baker & McKenzie LLP. "They got a little bit diverted off into these other policy-level or disclosure-focused projects that don’t relate directly to the way audits are performed."

SEC OKs PCAOB Budget and Accounting Support Fee [AT]
Oh, yeah. This happened in that hearing, too. The PCAOB gets $250.9 million. 

UBS Faces a New Tax-Evasion Probe [WSJ]
Excellent use of a Die Hard image here to remind everyone that bearer securities can be risky.

These accounting firms are hiring in Charlotte [CBJ]
Several, including: BDO, CohnReznick, Deloitte, Dixon Hughes Goodman, KPMG, McGladrey and PwC. 

IRS to Steal Tom Brady's Superbowl MVP Truck [ATR]
Incredibly, ATR seems to have found a way to get people — people who irrationally hate the IRS, I grant you — outside of New England to sympathize with Tom Brady.    

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