•Six charged in shares fraud case – “Six employees of the Wall Street firm Sky Capital Holdings have been charged with carrying out a $140m (£87m) investment fraud in the US and Britain.” [BBC]
•AIG in talks with MetLife over Alico – In case you didn’t hear, AIG owes some money [FT.com]
•Hedge Fund Buys Buffett Lunch A Year After Losing 66% – Guess they really need some pointers from the Oracle. [Clusterstock]
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Review Comments | 09.02.09
• Google’s Gmail knocked offline for ‘majority’ of users – Which was the cause of all the Tarantino-esque stand offs yesterday. [NYDN]
• Economy Sheds 298,000 Private-Sector Jobs, ADP Says – Unfortunately, some of you are in that number. [WSJ]
• Geithner Says Too Early to Start Withdrawing Stimulus Measures – Just in case you were worried. [Bloomberg]
• Goodell: NFL Teams Could Face TV Blackouts – For some of you, this is worse than Gmail going down. [NPR]
• The Great Recession – September 19th. NYC. Check it out. [Blackout Film Festival]
Review Comments | 12.02.09
• Internal auditor faces charges in Satyam scandal – India’s Central Bureau of Investigation (CBI) also claims that have more evidence against PwC. [Accountancy Age]
• Does Sarbox Reduce Restatements? – One study suggests just that, “The study, from research firm Audit Analytics, suggests that companies that have not yet had their auditors review their internal-control reports are more likely to have a restatement than larger companies, even though they claimed to have effective controls.” [CFO]
• Stanford Offshore Investors Suspected of Cheating IRS – We realize this is hard to believe. [Bloomberg]
• Bank of America to Repay $45 Billion in TARP – Drinks are on Ken Lewis. [WSJ]
• SEC Obtains Asset Freeze Against Co-Founder of Canopy Financial in $75 Million Offering Fraud – Not to mention the stolen letterhead: “According to the SEC’s complaint, the fraud came to light when KPMG discovered that Canopy had been claiming that its financial statements for 2007 and 2008 were audited by KPMG. In fact, KPMG had never been retained by Canopy to audit its financial statements and had never opined on the financial condition of the company. KPMG issued a cease-and-desist letter to Canopy demanding that it stop the unauthorized use of KPMG’s name and the audit report purportedly issued by KPMG.” [SEC Press Release]
Review Comments | 10.02.09
• The New CPA Exam, Layoffs, and the Top Twitter Feeds in Accounting – Get caught up. [FINS]
• Trustee Sues Four Madoff Relatives, Seeking $199 Million – For stupidity, mind you. [NYT]
• Jobs Vanish – Government numbers? Wrong? [Floyd Norris/NYT]
• Deadline for Small Co. 404 Audit Reports: June 15 – Why not? [CFO]
• The Fed Fighter: DealBook’s Ron Paul Interview – Fight all you want Doc. [DealBook]
• Anheuser-Busch InBev Nears Parks Deal – Whales to be let go? [WSJ]