“I don’t think the SEC’s culture is one that will make this effective one iota,” said Sherron Watkins, a one-time vice president at Enron, referring to expanded protections for whistleblowers included in the Dodd-Frank financial reform law. If she was in the same situation today as 10 years ago, when Watkins approached government authorities about accounting fraud at Enron, she would probably instead take her information to an organization like WikiLeaks, Watkins said. [Paper Trail]
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“People think that accountants are all white shirts and blue suits and that we just talk about money all the time but we’re not! We’ve got personalities too and I’m hoping my appearance on the show will improve our image.”
~ Christopher Stone (aka the Singing Accountant) is thinking about all of you white shirted, blue suited types out there.
No, You Can’t Deduct a Harley as a Medical Expense
“A client injured his wrists, so the doctor told him to keep his wrists elevated. […]
In Other Words, The Estate Tax Debate Will Continue to Drag On
“The debate becomes what rate to apply, and there’s the Republican view and the Democratic view, and what level of transfer exemption should be there. There are two different camps on that. I think historically that would be ripe for sort of compromising down the middle, but unfortunately, that’s not the political environment that exists right now.”
~ AICPA President and CEO Barry Melancon remains optimistic that something will get done.