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An Accountant’s Labor Day Weekend Reading | 09.03.10

~ Calling it a day people. We’ll be back Tuesday to help you cope with the post-holiday depression.

Why the SEC Won’t Flip the IFRS Switch [CFO]
We approve of prognostication in all its forms.

Bernanke Says He Failed to See Financial Flaws [NYT]
About as close to a “my bad” you’re going to get from the Beard.

Montvale: Police Blotter, Sept. 2 []
More car trouble associated with KPMG. This time it was a stolen Beamer. With an iPod inside!

Who is short selling Medifast stock? [Fraud Files Blog]
A show of hands, please.

H&R Block Surges as Chief Says Firm Can Handle Mortgage Refunds [Bloomberg]
“Concern about potential losses tied to buybacks of home loans ‘is not based on fact,’ and reserves to protect the company against claims ‘are adequate,’ Chief Executive Officer Alan Bennett said yesterday during a conference call about fiscal first-quarter earnings. The call included repeated queries about claims, which have totaled more than $680 million.

‘There’s nothing that we’re seeing anywhere that would lead to the kind of phone calls we just listened to other than speculators that, in my mind, have probably sold our stock short and then stirred this up,’ Bennett said in an interview after the call. Mortgage buyback claims ‘are getting better,’ he said.”

The Truth About SAS 70 [CFO]
They’re worthless. Well, not completely.

I.R.S. Looks at Finances of Planned Parenthood [NYT]
“The criminal division of the Internal Revenue Service is looking into the finances of Planned Parenthood Golden Gate, while the organization has brought in forensic accountants to evaluate its books.

The local nonprofit became Golden Gate Community Health on Friday, as the national Planned Parenthood organization stripped the Bay Area clinics of their affiliation, citing financial and administrative problems.”

Paul Hogan cleared to return to U.S. [CBC]
Mick is safe.

Peter Orszag Goes From the Obama White House to the New York Times [Daily Intel]
“Apparently, what that Times opinion section needs is another liberal-leaning economist to cheerlead for progressive economic policies from the White House — or one who provides another visible tie between the two institutions.”

Under the hood [NYP]
Tim Geithner gets the giggles and might have Tourette’s; Larry Summers called the shots on GM/Chrysler fiasco and NEWSFLASH: Rahm Emanuel says “fuck” a lot.

Dave & Buster’s, Inc. Appoints KPMG LLP as Independent Auditor [Business Wire]
D&B didn’t waste any time announcing their new auditors. As of now, there is no filing.