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November 30, 2022

Monday Morning Accounting News Brief: PwC Gets a Perfect Score; IRS Bonuses; EY Seeks Guidance | 10.10.22

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Deloitte US has acquired SFL Scientific, a Boston-area consulting firm focusing on artificial intelligence strategy and data science. EY is talking with officials at the IRS after urgently requesting guidance for the new 15% minimum tax on large, profitable corporations known as the Corporate Alternative Minimum Tax (CAMT) contained in the Inflation Reduction Act. KPMG hasn’t been fined in the last week; there’s no news story link to go with that statement, it’s just an observation. The PCAOB found ZERO deficiencies at PwC Canada, WTG. In the understaffed St. Louis County, MO Auditor’s Office, an auditor did just one audit in a year and gave herself a $5,000 raise. A 20-year-old woman is the youngest chartered accountant in the world. Some people want to ascribe financial value to natural assets (a.k.a. trees and rivers) to protect nature. The IRS gave a one-time bonus of $1,000 to employees helping to grind the agency’s huge backlog, “thank you to all the surge participants, and thanks to all of you for your continued commitment and dedication throughout the pandemic,” IRS Commissioner Chuck Rettig said in an email. Consulting firm Guidehouse has concluded its transaction to acquire the public sector advisory business of Grant Thornton LLP.

I read that your organization [insert fact here]. Can you tell me more? That’s from 10 questions to impress your interviewer via Journal of Accountancy. Remember to insert an actual fact in the brackets.

A couple things we’re working on:

  • We’re continuing to look into the BDO situation. Fat Joe, call me.
  • Offers are getting pulled, isolated cases or a sign of something worse to come?
  • Why the EY split might be (is) making it hard for EY to recruit talent
  • Some other stuff that’s yet to be posted on Reddit

nO oNE wAntS tO wORk aNYmoRe!1!!

Stressed out? Cast this on that giant TV of yours. IT WILL SOOTHE YOU. Gimme a shout if there’s anything interesting going down, it’s been a slow couple weeks for accounting news unless you count serious SEC fines, accusations of Ponzi schemes at a large firm, and CPA exam candidates listening intently for farts in CPA review videos. Have a great week, everyone!

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