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Footnotes: The Last Thing the SEC Needs Is Sexy; Soccer Mom Madam’s Accountant Tells All; Oh, Cow Farts! | 11.26.13

Posted on by Adrienne Gonzalez

There are questions about telecom provider BT's accounting practices [Telegraph UK]

"Soccer Mom Madam" accountant pulled a Sam Antar and will not be going to jail for his part in the madam's, er, activities [NY Daily News]

Maybe you heard that the IRS plans to crack down on tax-exempt groups' political activity. Here's one take on it [Center for Competitive Politics]

So the GOP candidate for governor in Ohio owes the IRS, and he hasn't been hearing the end of it from Democratic opponents. The part that sucks is now it's revealed the Dems' lieutenant governor pick also owes the IRS… and the state, too. Awkward [The Columbus Dispatch]

A Tale of Love, Taxes and Bribery Entrances Brazil [NYT]

Hey, Greg Kyte, you better talk to your heroin dealer in the Congo and give him a heads up [Al Jazeera English]

A money market manager in Detroit learned from the SEC that being "consistently different" is a bad thing [FOX Business]

PwC Calls for New Approach to Valuations [Compliance Week]

Ok, the hed "Accounting Fraud Gets Sexy at the SEC" would be clever were it not for that porn-watching scandal that time, guys [CFO.com]

While you're stuffing your face with turkey on Thursday, some folks from Deloitte will be facing the Canadian government Officials from one of Canada’s largest accounting firms will appear at the Senate Internal Economy Committee on Thursday to answer questions about extraordinary communications one of its senior partners had with the head of the Conservative Party’s fundraising arm during an investigation into $90,000 worth of Senate expense claims by Senator Mike Duffy. Deloitte, which is one of the federal government’s main accounting contractors and is also the auditor of the Conservative Party of Canada, was retained by the Senate last February as an inquiry widened into the housing and travel expenses of four Senators, including Sen. Duffy. [The Hill Times]

COW FARTS are ruining the world [The Register]

Related Posts

Ready to Do the Unthinkable and Work for Less Money?

office-space-402a-061907.jpgWith all the blood being spilled in the past year, you don’t have to be a math wizard to know that: Fewer People + Same Workload = People Working Like Dogs
It has gotten to the point that many of these people that are doing more work, for the same amount of money are ready to move on for, GASP, less money.
More, after the jump


Rick Telberg, at CPA Trendlines quotes a recent survey they did that says that nearly half of the people polled so far were ready to move on to a different job, ‘even if it meant a paycut’. No surprise really since doing the work of two or three people loses its luster pretty much instantly, especially when it becomes the expectation.
He also mentions that regardless of this emerging trend of people willing to turn down big (or mediocre) bucks to get their lives back, the enrollment on campus in accounting programs is at record levels.
So after giving it very little thought we came up with the following approximate timeline: Everyone in college thinks accounting is sexy; It takes 1-2 years to find out that it’s not; 3-6 years to actually get out (one way or another); Then, well, WTFK? Become a hack blogger?
Recession Adds to Workloads, Stress; Sends CPAs Looking for New Jobs [Rick Telberg/CPA Trendlines]

If You Know What’s Good for You, Stand Up Right Now

If your employer is of a shrewd nature and didn’t spring for Herman Millers, you need to get off your asses right now! Find out why, after the jump.

And yes, Gmail appears to be down.

Let’s Try and Forget About Money

half full.jpgWe realize that might sound like kooky-talk but we said try you twerps.
Ajilon Professional Staffing released its salary guide for 2010 and is predicting a decrease in salaries of 0.85% overall. CFOs and Treasurers are expected to take the biggest hit with an expected drop of 7.7%.
Now before you all start belly-aching about less money, the report does indicate that because of regulatory and compliance changes the scope of positions for those with backgrounds in accounting and finance will broaden.
More survey results after the jump


Additional findings:

• The majority of accountants (86%) believe that the convergence from U.S. GAAP to International Finance Reporting Standards (IFRS) will have a positive impact on the finance/accounting profession.
• The demand for financial analysis, budgeting and forecasting due to the recession will be the #1 driver of job opportunities for accounting professionals, followed by the transition to IFRS and the economic stimulus package.
• No surprise, nearly 60% of accountants say they have been spending more time on cost-cutting initiatives as a result of the recession and financial crisis. Some of the things they have been doing to reduce expenses include: cutting discretionary spending; taking a harder look at business lines, product and sourcing; and increasing attention to driving reported earnings and cash flow.
• Fifty-one percent (51%) of accountants said they have imposed across-the-board spending and capital freezes as a result of the recession.

So the last two bullets probably are of most interest because, you know, some of you are intimately familiar with them.
Nevermind that though, it’s in the past. IFRS, even if it’s a DeLorean ride away and government overhaul fever will create jobs for you and you’ll all be back in your McMansions in no time. At least attempt to channel some of that Tony Robbins shit.
Or continue being bitter, whichever.
Ajilon Professional Staffing releases 2010 Salary Guide [Press Release]