• Allyson Baumeister Elected to Board of Directors, American Institute of Certified Public Accountants – The best perk of such a position would be the opportunity to rub elbows with Ben Bankes. [Sanford Baumeister & Frazier Press Release]
• Audit Committee Comp Influences Auditor Support – “The study found that audit committee members are more likely to support the auditor, as opposed to management, in an accounting disagreement when audit committee compensation includes long-term stock options.” [Web CPA]
• The Mid-Quarter Trap – More year-end wisdom from Joe Kristan. [Tax Update Blog]
• GM board moving fast on CEO, CFO hires – Spencer Stuart is on the hunt if you’re interested… [Reuters]
• G.M. Will Consider Lump Sum Payment to U.S. – …but you’ll have to deal with this. [DealBook]
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Review Comments | 10.09.09
• GC October Survey – A chance for a $100 AMEX gift certificate people. Get on it.
• $100 million settlement for bankrupt Phila. lender – American Business Financial Services is bankrupt. Now the trustee wants BDO to pay $962 million. Ouch. [Philadelphia Inquirer]
• Internal Audit Staff Hit Hard by Recession [Web CPA]
• Corporate bully of the day: Hertz – Audit Integrity called out Hertz. Hertz sues Audit Integrity. That’s mature. [Felix Salmon/Reuters]
• FASB Finalizes New Revenue Recognition Rules – Yes, the wait is over. [Compliance Week]
• Tax Consequences of President Obama’s Nobel Prize [TaxProf Blog]
Review Comments | 10.27.09
• Hedge and private funds to register, open up books to SEC – Barney Frank, steering the ship: “The legislation would require fund managers to keep additional records and make new disclosures about their transactions to both the SEC and a proposed systemic risk regulator. The SEC would disclose additional information about trading to investors, creditors and other counterparties.” [Market Watch]
• Bank protesters descend on downtown Chicago – Angry people with signs, costumes. No Oprah though. [Chicago Breaking News]
• Only You Can Prevent White-Collar Crime: A Guest Post – Got it? [RTA]
• U.S. Revokes Licenses of Pilots Over Wrong-Way Flight – Solitaire is so damn distracting. [Bloomberg]
• Chicago Offers Bounties to Tax Whistleblowers – Protestors will now have something to do. [TaxProf Blog]
Review Comments | 10.13.09
• Don’t forget to take our survey. Again, it’s harmless.
• Heller Creditors to Go After Partners and Accountants? – One more lawsuit won’t hurt, E&Y. [AM Law Daily]
• IRS: Infant Formula Not Deductible by Mother With Double Mastectomy – Oh, that’s nice. [TaxProf Blog]
• High Court To Hear Ex-Enron CEO’s Criminal Appeal – Too bad Ken Lay kicked the bucket. He’s missing the SCOTUS and possibly Broadway. [AP via NPR]
• Judge in Bear Stearns trial rejects jurors for bias – Nice way to start things. [Reuters]
• Senate Finance Panel Approves Health Bill, 14-9 – God, if only this was the end of it. [WSJ]