October 4, 2022

Footnotes: COSO Wants Comments; Mitt’s Mess; Hoogervorst’s ‘Red Herring’ | 09.18.12

COSO Issues ICEFR ED; Pay Att'n Plenty: Comments Due Nov. 20 [FEI]

Romney Steps in Taxes, Again [Chris Bergin]

IASB warns of reduction in bank lending [FT]

UBS Accountant Found $3.6B Adoboli Trade Discrepancy William Steward, a former accountant in product control for UBS AG (UBSN), said he began looking into trades by Kweku Adoboli in August 2011 after receiving a report of a $3.57 billion discrepancy. Steward spent the next several weeks trying to clarify the discrepancy and received explanations from Adoboli that he had used “a shortcut while he was under pressure for time,” rather than booking every trade. “It wasn’t very impressive, but it made sense,” Steward testified today at a London court. [BBW]

How Can I Make My Commute Suck Less? [LH]


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