Footnotes: PCAOB Still Piling on Big 4; The Charitable Deduction’s Sanctity; Porn Magnate Arrested for Tax Evasion | 12.10.12

Audit Regulator Criticizes Big Accounting Firms [WSJ, PCAOB Report]

US Treasury announces sale of remaining AIG stock held by government [AP]

Foreign Auditor Inspections? "China Syndrome" Strikes the SEC [T]he large accounting firms must feel like a bunch of nails in a hammer-testing factory. [Re:Balance]

Sarbanes-Oxley Has Failed to Address the Problem of Audit Firm Independence [AT]

Is the Charitable Deduction a Sacred Cow? [G]iven the power of universities and other non-profits, there is not a chance in hell Congress will put any significant limits on the deduction. In fact, just the opposite is much more likely. If Congress agrees to tax rate increases proposed by the Obama administration, the value of the deduction will rise. [Martin Sullivan]

HSBC Said to Near $1.9 Billion Settlement Over Money Laundering [DealBook]

Online Porn King Fabian Thylmann Arrested for Tax Evasion In Belgium [Gawker (NSFW-ish)]

Where Did Deutsche Bank Get The Losses That It Ignored Until They Went Away? [DB]

Monday Map: Federal Aid to State Budgets Mississippi, Louisiana, Arizona, South Dakota, and Missouri are your top five. [TF]

IKEA Monkey Runs Around In Coat Outside Furniture Store In Toronto  [HP]

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