Using the Phrase ‘Scum of the Earth’ is Considered a Discreditable Act Across the Pond Apparently
Retired accountant and generally angry dude David Forge has been kicked out of the Institute of Chartered Accountants in England and Wales (ICAEW) over several not nice emails he sent to a variety of people. Not clients, not fellow accountants, just unfortunate people caught in his cyclone of anger. An ICAEW member since 1981, he […]
Elizabeth Warren Shocked to Learn Big Public Accounting Firms Do Shady Sh*t (UPDATE)
[UPDATE] It looks like Sen. Elizabeth Warren (D-MA) is still on her quest to make life miserable for the biggest public accounting firms in the US. According to a Feb. 22 report by the New York Times, Liz and Rep. Pramila Jayapal (D-WA) are asking the US Treasury Department to investigate the cozy relationship Treasury […]
Grant Thornton U.K. Given Seven-Figure Fine For Totally Blowing Ethics and Independence Rules
In hockey if you get penalized for misconduct, you spend the next 10 minutes in the penalty box and feel shame. In auditing if you get penalized for misconduct, you pay some slap-on-the-wrist fine from a regulator, vow to be better next time, and go on your merry way. The Queen’s Grant Thornton is the […]
Which KPMG Scandal Is Worse: PCAOB ‘Steal the Exam’ or CPE Training Exam Cheating?
Since Monday when the SEC announced it had fined KPMG $50 million for not one but two scandals involving auditor misconduct at the firm, I’ve been thinking about which scandal is worse. Is it KPMG audit partners stealing confidential information from rogue PCAOB employees in order to better the firm’s audit inspection scores OR is […]
KPMG Bermuda’s Head of Ethics Fined By the PCAOB For Being Unethical
Here’s a fun story of what not to do if you’re an ethics director at a Big 4 firm. Damion Henderson, a managing director at KPMG Bermuda, was fined $10,000 by the PCAOB on April 9 for signing off on documents that had been re-created and backdated in advance of a PCAOB inspection and not […]
PwC Embroiled In Massive Office-Wide Theft Scandal
People who aren’t accountants no doubt believe accounting to be one of the most trustworthy professions out there, second only to Buddhist monkistry, the clergy (in most cases, anyway), and professional seeing-eye dogging. However, despite being bound by a strict code of ethics under their respective professional licensing bodies, as well as their own rigid […]
Kidnapping Prostitutes Is Not a Good Way to Claim Dependents for Tax Purposes
Some people might say that a Florida CPA imprisoned three prostitutes and used them as sex slaves, but others could say he increased his number of dependents using an innovative strategy that complies with both the U.S. Tax Code and the AICPA Code of Professional Conduct. I'm sticking with the former – false imprisonment and […]
Ex-KPMG Partner Who Gave Insider Tips to His Former Golf Buddy Is Going to Talk About Ethics Before He Goes to Prison
For the low low price of $158, you can sit in on a live video interview with fallen star Scott London, who will be giving insight into the importance of ethics before he heads to prison due to his the ethical deficiency that led him to profit off insider tips he gave to his golf […]