A Certain Big 4 Firm Gets Another Chance to Screw Up a State’s Unemployment Benefits System
We can’t fool you guys. Of course it’s Deloitte! Hopefully Uncle D will do a bang-up job this time for the state of Michigan, unlike some of the other state unemployment benefits systems it has handled (or mishandled) like Florida, Illinois, Colorado, and California. The Detroit Free Press reported on Nov. 15: Michigan’s Unemployment Insurance […]
Davenport University Guarantees Employment for Accounting Students
Well, this is interesting. Davenport University in Grand Rapids, Michigan announced that it will guarantee employment for its accounting students. If, by some chance, someone doesn't get a job in six months of graduating, (s)he can get up to 48 more credits from the university, tuition-free. That's a value of nearly $30,000. Students would have […]
What Happens When You Mix a Seedy Strip Club, an Unsophisticated Taxpayer and the Tax Court?
In a better world, the daily fraud perpetuated at a strip club wouldn’t go beyond silicone implants and claims of paying law school tuition. But alas, these are dark times we find ourselves in. Squarely within the seamy underbelly of Jackson, Michigan stood Potter’s Pub, a “gentlemen’s club.” Potter’s derived its business entirely from cash […]
Michigan CPA Charged with Murdering Michigan CPA
We've been keeping an eye on the story of the murder of David Locey, a CPA in Sturgis, Michigan and his former employee is now being charged with the crime. Andy Brown was initially charged with embezzling $100k from Locey's firm but now he's accused of first degree premeditated murder and felony firearm. Locey was […]
Now Presenting, By Popular Demand: 2010 Michigan CPA Exam Performance
Let no one claim this website is not almost completely user-generated. We rely on tips, suggestions, complaints and compliments to determine what we write about and what we don't. It's still a work in progress but despite my Republican tendencies, we are a site for the people, by the people. The people being you lonely, […]
Comp Watch ’11: Rumors of Imminent Exodus at Ernst & Young Has Some Perplexed
This just in:
I have been talking to a variety of people at E&Y from several offices in Ohio and Michigan. The word from them is that there is going to be a significant movement of people once compensation info is passed out. It’s kinda conflicting since the rumor is that raises should be around what they were last year. Not sure what to make about it.
As you recall, last year’s raises and bonuses at Ernst & Young were competitive with PwC, which came as a pleasant surprise to everyone at Black and Yellow but understandably this rumor has our tipster in a flummox. Of course, this could be limited to the Ohio/Michigan area but it’s worth seeing what the Turley’s Troops in other areas are hearing. Share below.
Michigan CPAs, Welcome the Newest Member of the Club
Since we are totally above making disparaging remarks about strangers on the Internet, we present the following without comment from mlive.com:
Jessica A. Rolfe, of Yeo & Yeo P.C., 3023 Davenport in Saginaw, has received a Certified Public Accountant license and was promoted to senior accountant, providing auditing services in the firm’s Saginaw office.
Rolfe holds a bachelor’s degree from Saginaw Valley State University, and is a member of the Michigan Association of Certified Public Accountants and the American Institute of Certified Public Accountants.
Now the last time we shared one of these cheesy, free publicity “news” items, it also happened to be a Michigan CPA except that guy allegedly passed all four parts in one sitting, which the newspaper told us only happens with a lucky 4% of individuals. We’re not sure where they got that number (we suspect somewhere between their legs, towards the back end of things) but are glad to see no such claims made in this particular announcement.
We’ve said it before and we’ll say it again: if you have an announcement like this to make for the star intern in your life, please feel free to send it to us. We require at least 100 words, fact-checked claims and, of course, a Photoshopped headshot. Might I suggest Glamor Shots?
Dumb: Michigan Representative Introduces Legislation That Would Force Prisoners to Pay Sales Tax
Today in awful tax policy proposals, Michigan Represenative Anthony Forlini (R) has introduced legislation that would force prisoners to pay sales tax on goods they buy inside the joint. Rep. Forlini says the proposal “is common sense,” and he can’t imagine why any average Joe would think differently, “The average person […] cannot believe that they are paying sales taxes for schools and local municipalities, yet the inmates are not contributing to this. We’re losing about a million dollars a year because of the law. It doesn’t make any sense to me, and I don’t think it makes any sense to the taxpayers out there either.”
SOMEHOW it doesn’t make sense to David Brunori:
So if you are doing 25 to life in Jackson (which I think is the state penitentiary) and you buy some toothpaste from the commissary you would pay the sales tax. I have questions for Rep. Forlini. What the heck motivated you to propose this legislation? Are there not more pressing issues facing the state of Michigan? Are you motivated by sound tax policy? Are you just mad because bad guys are buying stuff tax free when you have to pay sales tax?
Honestly, Michigan. Have your CPA governor bitch slap this guy.
State Rep. Anthony Forlini: Make inmates pay Michigan sales tax [MLive via David Frunori]
Could Detroit Become One of Grant Thornton’s New Dynamic Clients?
Maybe! At this point, what harm would it do?
In Detroit, the largest city in [Michigan], the upcoming budgeting process carries an implicit threat: If local politicians can’t convince the state they have what it takes to repair the city’s finances, the state could appoint an outside official to do the job for them. The city has already hit several of the triggers to initiate the process that could install an emergency manager, say local politicians, who are scrambling to keep the city government out of receivership.
But would-be emergency managers say they can succeed where elected officials have failed. They stand to draw six-figure salaries from the local governments under their management, but some talk about this work as if it were a civic duty.
“We feel very strongly that not only is there a business opportunity here, but we want to be part of a solution for the greater good,” said Michael Imber, a principal in Grant Thornton LLP’s corporate advisory and restructuring services practice in New York. “We’re absolutely ready to help.”
Finance Professionals Eye Detroit And Other Strapped Michigan Cities For Emergency Manager Takeover [HP]
Did Ohio State Dump Deloitte for PwC Over Colors?
Sounds like CFO Geoff Chatas and state auditor Dave Yost wanted to figure a way around a 15-year limit but it was to no avail, “Ohio State CFO Geoff Chatas said Yost discussed with him the possibility of letting Ohio State be the first to stick with the same audit firm, but the school opted to put the contract out for bid.”
A likely story. If you ask me, this has everything to do with the fact that Deloitte’s main color is blue while PwC has opted for slightly more appropriate hues.
Deloitte Is Lending Michigan a Helping Hand
Did I say lending? Sorry, that’s not technically accurate. Deloitte Consulting is monitoring Michigan’s welfare computer systems and that involves billable hours. Lots of them. $15 million worth.
The state of Michigan is spending millions of dollars on a contractor to run its welfare computer system partly because it doesn’t offer enough money to attract new hires. A system called Bridges keeps track of welfare cases in the Department of Human Services. In February, Deloitte Consulting was given a one-year contract for about $15 million to maintain it and make regular updates.
Of course it would be cheaper if the Wolverine State did this themselves but there’s a small problem:
[The State’s technology department] lost 15 people to early retirement in December and had several vacancies starting at roughly $42,000 a year. Nobody applied.