The Accounting Wizardry Behind Banks’ Strong Earnings [BBW]
Your regular quarterly massage, sir? "More than 31 percent of JPMorgan’s 2013 earnings, or $5.6 billion, and about 10 percent of Wells Fargo’s, $2.2 billion, weren’t really earned last year. That money came instead from the banks’ so-called loan-loss reserves, an accounting accrual that’s kind of like a rainy-day fund."
Ernst & Young, venerable Cleveland accounting firm, announces its first female managing partner [EY]
Julie Boland takes over for Lee Thomas.
Akin Gump, Grant Thornton Cost Developer $12M, Suit Says [Law360 (Subscription)]
J.A. Green Development Corp. says the two firms were negligent when "[advised] not to settle dual audits by the IRS and state of New York."
I'm sure Barry Salzberg and Owen Ryan are in DC to buy some goodwill after the 2009 inspection report.
The Chicago Bear seems a little too cereberal, however the Denver Bronco is sufficiently broody.