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January 30, 2023

Friday Footnotes: Fines, Fines, Fines; Team Deloitte Going For Gold; Party’s Over For One Fraudster | 8.2.19

Is Your Accountant a Wimp? [Entrepreneur] SLANDEROUS.

Audit regulator fines PwC Mexico $100,000 for violating independence rules [MW] According to the Public Company Accounting Oversight Board, at least six of its partners had personal financial relationships with Banco Santander Mexico when PwC’s Mexico firm contracted to be the bank’s auditor for FY 2016.

KPMG U.K. fines top $16M in 2019 amid industry crackdown [AT] “We regret that aspects of our work did not meet the standards expected by our regulator,” KPMG said in a statement. “We have cooperated with the FRC over the last four years to bring this investigation to a close and we are committed to bringing these historical cases to a swift conclusion.”

Deloitte announces ‘Team Deloitte’ for 2020 Olympics and Paralympics [] The sponsored athletes exemplify Deloitte’s values of “leadership, drive, integrity, and commitment to excellence,” according to a release from the consultancy.

Former Brixmor Property Executives Charged With Accounting Fraud [WSJ] The former chief executive officer of shopping-center owner Brixmor Property Group Inc. and his finance chief were charged with accounting fraud for allegedly manipulating a widely used metric of profitability.

Main Line accountant found guilty of strangling girlfriend [] The jury hearing the case involving John Michael Swirsding in Common Pleas Judge William P. Mahon’s courtroom deliberated a little over five hours before returning with the verdict Wednesday, finding him guilty of felony strangulation, simple assault, and terroristic threats.

Men Play Key Role in Helping Women Advance at PwC [SHRM] Oof.

The party appears over for the Flying Lady — a ‘Playpen’ yacht with a stripper pole — after its owner is charged in a multimillion-dollar fraud scheme [Chicago Tribune] According to the charges, Izsak fraudulently obtained $360,000 in financing for the yacht by falsifying his income, submitting bogus tax returns and lying about the status of home equity loans he’d taken out on his home on Chicago’s Near West Side.

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Monday Morning Accounting News Brief: ESG Compliance Heats Up; Deloitte Disclosures; AI Says It Isn’t a Threat | 1.30.23

Deloitte & Touche LLP partners and staffers failed to make financial disclosures required to ensure the independence of their audit work, according to new details from the firm’s 2018 PCAOB inspection. [Bloomberg Tax] Britain’s accounting watchdog said on Monday it will monitor whether auditors were making spot checks on their compliance with environmental, social and […]


An Audit Associate at KPMG’s NYC Office Has Died

Ed. note: an earlier version of this article used male pronouns based on the information available at the time. We have been informed the associate was female, confirmed this information with the NYPD, and have updated pronouns in this article. I debated even posting this at all but everyone is already talking about it and […]