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March 20, 2023

When accounting goes unaccounted for

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Friday Footnotes: An Outsourcing Shortage Now Too?; Finally, Some Disruption; PwC Haters Celebrate Government Inquiry | 3.17.23 MNCPA to Educators: “We Do Not Need New CPAs Who Have Additional College Credits; We Need More CPAs, Period.” Accounting Firm Leaders Cite ‘Rising Salaries’ As The Second Biggest Problem Facing Their Firms With Project Everest on Pause, Let’s Pause a Sec to Shed a Tear For EY’s Reputation As Transaction Advisors WTF Happened at SVB and Should KPMG Auditors Have Seen It Coming?

just because we’re paying a settlement doesn’t mean we’re admitting guilt

Deloitte

Deloitte Is Finally Finished with That Whole Aequitas Investors Lawsuit Thing

by Jason Bramwell

That’s because the $234.6 million settlement Deloitte, EisnerAmper, and five other companies reached with investors of the now-defunct Oregon investment company Aequitas last July was approved in Oregon federal court on Dec. 16. According to Law360, the judge also approved nearly $58 million in attorneys fees and costs. Deloitte, EisnerAmper, law firm Sidley Austin, securities […]

Deloitte

Deloitte, EisnerAmper, 5 Others to Pay $235 Million to Settle Aequitas Investors’ Lawsuit

by Jason Bramwell

Why go through a lengthy, expensive trial, not knowing whether you’ll win or lose, when you can pay a shit-ton of money to make it all go away? That’s what the seven defendants, including Deloitte and EisnerAmper, did to settle a class-action lawsuit filed three years ago by investors of Aequitas accusing the accounting firms, […]

EY

EY Still Planning to Settle With Lehman Investors, Also Still in Denial

by Adrienne Gonzalez

Back in October, it was reported that EY planned to settle with Lehman Bros investors, subject to court approval (EY's denial notwithstanding): Ernst & Young LLP has agreed to pay $99 million to settle investor class-action allegations that it turned a blind eye when its audit client Lehman Brothers Holdings Inc. misled investors before the […]