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January 30, 2023

Footnotes: E&Y Says Alleged Spy Was ‘Welcomed’ by Express Scripts Execs; The Carolina Panthers’ Financials; The Future of UK GAAP | 03.07.13

Ernst & Young denies stealing Express Scripts data  [A]ccording to Ernst & Young, Gravlin's presence at the pharmacy benefit manager's headquarters was "welcomed" by its executives. Gravlin met with Express Scripts (ESI) executives many times in 2012, the accounting firm states. He attended multiple meetings with Express Scripts executives after March 2012 — the date that Express Scripts alleges Gravlin began "sneaking into" its facilities. In its court papers, Ernst & Young specifies the dates, subject matter, and participants of these scheduled meetings that Gravlin attended. In one of these meetings, Gravlin presented a proposal for additional consulting work. "Contrary to what ESI is saying in this case, I never used ESI documents or information for any improper purpose," Gravlin said in a sworn affidavit. "I never used ESI documents or information for personal financial purposes. I did not disclose any ESI documents or their content to any third party." [STLPD]

Deadspin has obtained the audited financial statements for the Carolina Panthers. [Deadspin]

Going Concern Opinions are Rare after Top Execs Unload Stock [AT]

Tax on email suggested as way to help fund U.S. Postal Service [DMWT]

The comprehensive, fully caffeinated guide to coffee at work [Quartz]

"There were significant and substantial weaknesses in the budgeting staff, in training of the budget staff, in their accounting procedures, and their ability to do budgeting forecasting," said H.D. Palmer, the spokesman for the Department of Financing. The audit found major differences between what the CPUC was reporting to the Department of Finance, and what the agency is reporting to the State Controller's Office. "We looked at all of the 14 funds the PUC administers — and seven of them had differences of more than a million dollars," Palmer said. The differences totaled more than $400 million. [KCRA]
 
Grant Thornton would everyone to know that the future of UK GAAP is here. [GT]
 
Lawyers for Deloitte Seek to Buy Time in Subpoena Spat with SEC [BLT]

Hedge Funds and Deferred Management Fees: State Taxes [Tax Analysts]

Police, IRS raid tax-preparation office "It was probably the most obnoxious example of illegal signs we've had in quite a long time," Orlando Code Enforcement Director Mike Rhodes said. [OS]

Moonlight Bunny Ranch Offers 'Stimulus Program,' Where Tax Refund Goes To Sex [HP]

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