Please ensure Javascript is enabled for purposes of website accessibility
February 2, 2023

Accounting News Roundup: PCAOB’s Enforcement Chief Is Latest to Go | 05.30.18

Plus, a sexy tax avoidance product, EY picks up some lawyers, a literary agency accountant cooked some books, and more.

Accounting Watchdog’s Enforcement Chief, Claudius Modesti, to Leave [WSJ]
The PCAOB’s announcement that Modesti would be leaving this month marks the latest in a slew of senior staff members departing.

Blackstone’s tax-free hedge fund pitch woos more clients [Bloomberg]
If there’s one thing the ultra rich like, it’s a good tax avoidance strategy. Blackstone Group owns a wealth planning firm called Lombard International that promotes “private placement life insurance” which allows investment in hedge funds while deferring or avoiding most taxes. “This is a sexy product that people get excited about owning and tell their friends about,” says a guy.

Big Four’s EY Law Snaps Up 6 Lawyers From Troutman Sanders’ Soon-to-Be Closed Asia Offices []
Reminder: If you’re looking to close a global law office or just shed a few lawyers, I’m sure you’ll be able to find a Big 4 firm that will take them off your hands.

Accountant embezzled $3.4M from famed literary agency [NYP]
Darin Webb has been charged with embezzling $3.4 million from Donadio & Olson, a literary agency that represents authors like Chuck Palahniuk and the estate of Mario Puzo. The complaint alleges that Webb took money that was “earmarked for author royalties and advances,” starting in January 2011, but a forensic analysis is looking back to 2001 when he joined the agency. In a somewhat awkward twist, some authors hadn’t been contacted about the alleged theft and learned about it from the news reports.

Previously, on Going Concern…

Grant Hutchinson wrote about myths about remote work.

In other news:

Get the Accounting News Roundup in your inbox every weekday by signing up here.

See something we missed? Have a tip, correction, comment, or complaint? Email us at [email protected].

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]