Please ensure Javascript is enabled for purposes of website accessibility

Footnotes: E&Y’s Legal Trouble in HK; Celeb Tax Troubles, Explained; GOP Tax Planks | 08.27.12

HK regulator launches legal proceedings against Ernst & Young Hong Kong's securities regulator said on Monday it had launched legal proceedings against Ernst & Young for failing to produce accounting records related to a Chinese company as specified, the latest auditor to run into trouble over a Chinese client. Ernst & Young claimed it did not have the relevant records on Standard Water Ltd, which were held in China by its joint venture partner, Ernst & Young Hua Ming, the SFC said in a statement, adding the auditor then said the documents could not be produced due to restrictions under Chinese law. "Given Ernst & Young was the reporting accountant and EY Hua Ming was Ernst & Young's agent, the failure to produce these records to the relevant mainland authority on the SFC's request is a matter of serious concern," it said. [Reuters]

Life in the Fast Lane: Tax Controversies of the Suddenly Wealthy and Globally Famous [Tax Notes]

RIP Daniel Pirron — Deloittes Mourns the Loss of a Partner — And We Should Too [Re:Balance]

GOP tax platform stirs debate on mortgage interest deduction’s future [The Hill]

Kidney Thrown In Trash, University of Toledo Medical Center Suspends Transplant Program "Human error rendered the kidney unusable," University of Toledo Medical Center spokesman Toby Klinger said Saturday, but he declined to give more details, citing the hospital's investigation into what happened and its respect for the privacy of the patients involved. [AP]

Food Lion Loses Forced Combination Fight and Gains Penalties in North Carolina Court of Appeals For the SALTy folks out there. [Tax Trials]

Accountant Cut From Miami Dolphins Roster [CC]

Tax Planks in 2012 Republican Platform [TaxProf]


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

orange cat

Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Reminder: you have until April 17 to weigh in on a proposal to extend the CPA exam window Practice Is it time for firms to transform their business model? [Journal of Accountancy] Pandemic pressures have worn the workforce thin, and the economy is in the thick of rapid, radical change. It’s time for firm leaders […]

dog with pink heart glasses

Friday Footnotes: An Outsourcing Shortage Now Too?; Finally, Some Disruption; PwC Haters Celebrate Government Inquiry | 3.17.23

There’s a lot happening this week. Which YAY because hooooo boy can it get boring around here when there isn’t. First things first, check out what the AICPA is working on and when you’ve had a chance to review their idea, reach out with your feedback if you want. Comments are closed on Footnotes because […]