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November 26, 2022

Footnotes: EY Missed Some Bank Fraud; Greed Isn’t Good; KPMG Says ‘Take the Stairs’ | 06.25.14

SEC Announces Fraud Charges Against Three Former Regions Bank Executives in Accounting Scheme EY kinda missed that, oops. [SEC]

Mary Jo White Says SEC Statement on IFRS Coming Soon Despite uncertainty regarding the agency’s next steps, U.S. Securities and Exchange Commission’s (“SEC”) Mary Jo White reaffirmed that International Financial Reporting Standards (IFRS) continue to be a top priority. [Cherry Bekaert]

Dark Pool Greed Drove Barclays to Lie to Clients, N.Y. Says [Bloomberg]

Future of U.S. export lender at risk as conservatives mount attack Just say no to corporate cronyism [Reuters]

We're probably not going to converge on lease accounting this year, guys [AWeb]

CPA Says PR Society of America Financial Reports 'Not Real' A CPA who examined the 2013 audit of PR Society of America, focusing on the $304,305 in "deferred dues" when dues income is $5,180,386, says dues should not be booked until earned. "The not for profit, [PR Society] in my opinion, is not reflecting the transaction properly," said the CPA in an e-mail to this website. "They should be setting up a deferred revenue liability until the income is earned," he said. [O'Dwyer's]

KPMGers in the UK encouraged to get off their fat asses and take the stairs [Wharf]

Chicago Lawyer Gets 15 Years in Big Tax Fraud Case A Chicago lawyer and accountant labeled by the government as history's most prolific and unrepentant tax cheat has been sentenced to 15 years in prison. Wilmette, Illinois, resident Paul M. Daugerdas was sentenced Wednesday in New York by a federal judge. Daugerdas was convicted last year by a Manhattan jury of conspiracy, tax evasion and mail fraud. [AP]

Man Attacked by Scorpion While Reaching for Bananas at Walmart The scorpion reportedly "flopped" to the ground [Gawker]

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