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December 8, 2022

Footnotes: Groupon’s Accounting Dance; Romney’s Non-response Responses; PCAOB Requires More Talking | 08.15.12

Sen. Levin: New York regulator showed ‘backbone’ in bank settlement [The Hill]

Groupon’s accounting shuffle: why it matters [ZDNet]

Mitt Romney: Rich taxpayers will pay their share Q: Specifically what tax loopholes would you close and what exemptions would you eliminate to make the revenue-neutral equation work? A: Simpson-Bowles laid out a formula that shows that you can do just as I described. That you can bring down the rates, limit deductions and exemptions for people at the high end, and with additional growth that comes by virtue of the stimulative action you can reach a balanced budget. I will follow a model similar to Simpson-Bowles and work with Congress to identify which of the alternative methods we should apply to reduce deductions, benefits, and exemptions. Those reductions will occur for people at the high end. I have noted before my commitment to preserve tax preferences for middle-income taxpayers such as homeownership, charitable giving and health care. [Fortune]

The Accounting Trick Behind Thirty Years of Scandal [TIME]

PCAOB Adopts New Auditing Standard, Amendments [AT]

Birmingham pays fired city accountant more than a year of back pay, but legal fight continues [BN, Earlier]

Why Are You Playing the Lottery? [Gawker]

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