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September 26, 2023

Accounting News Roundup: Toshiba Widens Probe; EY Nabs Royal Dutch Shell Audit; An Accounting Firm Raid! | 05.22.15

Toshiba extends accounting probe to three more business units [Reuters]
The company is looking at its TV, computer and chip businesses now.

FASB proposes narrow simplification to business combination accounting [JofA]
This will "make it easier to account for adjustments made to provisional amounts recognized in a business combination."

EY wins Royal Dutch Shell audit [Economia]
ICYMI: EY! replaces PwC. The fee for last year's engagement was over $50 million. 

Accounting firm raided [LimaOhio]
It's fun to see a rare headline such as this one. Anyhoo, it sounds like Edelbrock-Reitz was up to no good. 

Yale Graduate Who Promoted CrossFit Ventures Is Arrested [DealBook]
Joshua Newman was raising money from investors but then not paying it back: "In December, for instance, Mr. Newman transferred a $55,000 payment from one investor to his personal checking account at Santander Bank, the complaint said. Authorities said that before the money transfer, Mr. Newman’s account had a balance of just 67 cents. The complaint also stated that Mr. Newman used that money to pay back an earlier investor he owed money to and to pay for restaurant bills, grocery store purchases and a gym membership." Also, at Yale he was a founding member of a group called "Porn 'n' Chicken," that supposedly got together on Friday nights to watch porn and eat fried chicken.

12 Great Moments in Grill History [WSJ]
Including the George Foreman.

Desk Plant? [r/accounting]
Anything low maitenance (i.e. doesn't need much sunlight, water).

Dem slams GOP with a ¯\_(ツ)_/¯ [The Hill]
This is what it's come to.

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