Please ensure Javascript is enabled for purposes of website accessibility
November 26, 2022

Footnotes: Another One Bites the Dust; Seinfeld and the IRS; KPMG Can’t Bank on It | 07.07.14

Lawrence Summers goes to bat for endangered Export-Import Bank [LA Times]

The case of a really bad South Jersey accountant [AP]

What Seinfeld taught us about the IRS [Forbes]

Public Wi-Fi provider Gowex implodes as CEO takes responsibility for false accounting The Spanish Wi-Fi provider Gowex has filed for bankruptcy protection after admitting that it falsified its accounts for the last 4 years. CEO Jenaro García Martin has resigned. All this follows a July 1 report by Gotham City Research, which said Gowex’s real revenue was 10 percent (or less) of what the company was reporting. What’s more, when Gowex claimed it had more than 100,000 hotspots in its free public Wi-Fi empire … actually it had around 5,000. [Gigaom]

Don't worry about Gowex, though, the pros are on the way Gowex, which also provides support services for mobile-phone carriers, said July 1 that Gotham’s report “mixed lies with facts.” On July 4 it said it would hire PricewaterhouseCoopers LLP to review its accounts. The stock, which has been halted since July 3, remains suspended in Madrid today. It has a market value of 573 million euros. A press officer at the national police said they had no knowledge of any action against Gowex. Jose Antonio Diaz, who told Bloomberg News last week that he acts as Gowex’s auditor, didn’t respond to calls to his mobile phone. [Bloomberg]

FLASH: the IRS help line is out of service [Forbes]

Op-ed: the secret to getting to the bottom of the IRS scandal might be to grant Lois Lerner (and her computer?) immunity [The Arizona Republic]

KPMG may be requested as defendant in €6bn INBS case Mr Cooney wrote earlier this year to the Minister for Finance claiming it was "preposterous" the two special liquidators of State-owned Irish Bank Resolution Corporation (IBRC), Kieran Wallace and Eamonn Richardson, both partners in KPMG, were not suing their own firm for alleged negligence. [Irish Independent]

You think you work long hours without overtime? Try working in reality TV [Gawker]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

a dog in fall leaves

Friday Footnotes: How EY Fights Poaching; Lack of Staff Is Closing Doors; Accounting to Biglaw? | 11.25.22

Big 4 FRC to fine Deloitte £440k over 2018 audit [Accountancy Today] The Financial Reporting Council’s Audit Quality team has issued a notice of a proposed sanction on Deloitte, proposing a regulatory penalty of £440k after it was determined that the Big Four firm failed to comply with the auditing framework in its audit of […]

kitten in autumn leaves

Friday Footnotes: Retired EY Partners Hate on the Split; It’s a Raid!; ‘An Alphabet Soup of Technology’ | 11.18.22

Big 4 EY split threatens to weaken both sides of firm, say retired partners [Financial Times] More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. In a three-page memo seen by the Financial Times, the retired US partners say […]