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October 2, 2023

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Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23 Prager Metis Just Got Thoroughly Boned By the SEC For Hundreds of Independence Violations Listen Up, Young Accountants: Career Advice For Sticking Out Those Early Years Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte Longtime PCAOB Veteran and Skepticism Enthusiast George Botic to Sit on the Actual Board
CFOs

The BNY Mellon CFO Isn’t Mad at Andrew Cuomo…

by Caleb Newquist

…just disappointed about Andy getting all sue-y over BNY Mellon’s Ivy Asset Management’s involvement with Berns Madoff, which will result in more money going to – SHOCK – lawyers.

Bank of New York Mellon Corp.’s (BK) Chief Financial Officer Todd Gibbons told investors Wednesday that the company is “a bit disappointed” about the New York Attorney General’s decision to file a law suit against the bank related to Bernard Madoff’s Ponzi-scheme.

But as a result of the suit, and the current environment more broadly, legal cost are expected to run higher, the CFO said at UBS AG’s (UBS) Global Financial Services Conference in New York.

…just disappointed about Andy getting all sue-y over BNY Mellon’s Ivy Asset Management’s involvement with Berns Madoff, which will result in more money going to – SHOCK – lawyers.

Bank of New York Mellon Corp.’s (BK) Chief Financial Officer Todd Gibbons told investors Wednesday that the company is “a bit disappointed” about the New York Attorney General’s decision to file a law suit against the bank related to Bernard Madoff’s Ponzi-scheme.

But as a result of the suit, and the current environment more broadly, legal cost are expected to run higher, the CFO said at UBS AG’s (UBS) Global Financial Services Conference in New York.

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Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23

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Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. CPA Exam Friendly reminder, deadlines to apply for BEC before the […]

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Prager Metis Just Got Thoroughly Boned By the SEC For Hundreds of Independence Violations

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It’s not every day you get to witness a firm getting hit with HUNDREDS of independence violations in one fell swoop. Well today Prager Metis got the independence violation high score in an SEC complaint alleging a mess of them. From the SEC: The Securities and Exchange Commission today announced charges against accounting firm Prager […]