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November 28, 2022

Footnotes: FRC Tells BDO, Grant Thornton to Step Up the Professional Skepticism | 03.22.13

IRS Warns Tax Pros to Safeguard Taxpayer Data [AT]

Internal Audit Shines Brighter with Boards [CFO]

GT and BDO told to buck up professional scepticism Serious concerns have been raised about some of Grant Thornton and BDO's listed company audit work in a review carried out by the profession's watchdog. In a series of check-ups of the firms' work, the FRC's review team found roughly a third of audit engagements inspected in need of significant improvement, with both firms taking flack for a lack of professional scepticism[Accountancy Age]

Ernst & Young’s multiple Nortel roles shrouded in mystery [FP]

Ex-Deutsche Bank Accountant Gets 3 1/2 Years for Tax Fraud [Bloomberg]

Accounting Under FASB's Credit Loss Model: Too Much of an Audit Challenge? [BloombergBNA]

New York Budget Includes Tax Subsidy to "The Tonight Show" [TF]

Man Staged Knife Attack To Impress His Date: Police Jeffery Tyler Siegel, 26, and a woman told police that a man wearing all black approached them Saturday night and told Siegel, "You can go, but your girlfriend stays," according to ABC News. The woman ran away, but Siegel said he stayed to fight. The attacker "slashed" Siegel twice with a large knife before running off into nearby woods, KAIT-TV reported. Suspicions rose when police found no trace of the suspect, even after a two-hour search. Siegel was also "reluctant" to come in for questioning on Monday, according to a Jonesboro police report obtained by KAIT. When he did show up, he eventually confessed to planning the whole attack in hopes that it would improve his chances with his date. He also admitted that his cuts were self-inflicted. [HP]

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