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Deloitte Touche

Delay By Chinese Regulators Slows Case Against Deloitte Shanghai

Delay By Chinese Regulators Slows Case Against Deloitte Shanghai

The SEC has spent five months reviewing 20 cartons of work papers from a Deloitte LLP affiliate in Shanghai as part of its investigation into one of the firm’s former clients for accounting fraud, but has yet to determine its next move. SEC enforcement lawyers raised a number of issues related to the production of […]

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Accountants Ask for Clarification of Fair Value in Risk Retention Rule

Accountants Ask for Clarification of Fair Value in Risk Retention Rule

The SEC and other financial regulators are in the process of writing rules that would require sponsors of securitization transactions to retain at least 5% of the fair value of all asset-backed securities interests in the issuing entity. Big Four accounting firm Deloitte asked the agency to clarify the use of fair value to measure […]

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Private Company Proposals on Goodwill, Derivatives Get Approved

Private Company Proposals on Goodwill, Derivatives Get Approved

The FASB’s Private Company Council October 1, 2013, approved two proposals to ease accounting for some common private company transactions. Proposed Accounting Standards Update (ASU) No. PCC-13-03,Derivatives and Hedging (Topic 815), Accounting for Certain Receive-Variable, Pay-Fixed Interest Rate Swaps a proposal of the Private Company Council, offers a break for private companies that have to […]

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Ruling in Case Against Chinese Auditors Delayed to January

Ruling in Case Against Chinese Auditors Delayed to January

The SEC’s chief administrative law judge said an extra three months were needed to review the thousands of pages of documents in a complaint against the Chinese affiliates of the major audit firms. A ruling in favor of the SEC could bar the affiliates of Ernst & Young, KPMG, Deloitte & Touche, Pricewaterhousecoopers, and BDO […]

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Five Foreign Affiliates of Big Four Firms Cited for Flawed Audits

Five Foreign Affiliates of Big Four Firms Cited for Flawed Audits

The PCAOB released inspection reports for 23 accounting firms on October 3, 2013, and found problems at 13 of them. The reports included reviews of work done by Deloitte Touche Tohmatsu in Australia, Ernst & Young Inc. in South Africa, KPMG’s operations in India and the Netherlands, and PricewaterhouseCoopers in Germany and Papua New Guinea. […]

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Chinese Audit Documents Remain out of Reach

Chinese Audit Documents Remain out of Reach

After years of U.S. effort, it seemed like a breakthrough was achieved when Chinese regulators in July 2013 handed over to the SEC 20 boxes of documents related to a China-based company that was listed on a U.S. stock exchange and suspected of accounting fraud. The SEC has yet to receive paperwork for other companies […]

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Chinese Are Prepared to Hand Over More Auditor Papers

Chinese Are Prepared to Hand Over More Auditor Papers

The China Securities Regulatory Commission is getting ready to hand over more auditor papers to the SEC. The move follows a recent decision by China’s market regulator to give U.S. officials the paperwork for Longtop Financial Technologies Ltd. Longtop’s documents were the first set of papers given to a foreign regulator by the Chinese after […]

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Deloitte’s Understanding of U.S. Law Becomes Focus of Hearing About Chinese Paperwork

Deloitte’s Understanding of U.S. Law Becomes Focus of Hearing About Chinese Paperwork

A partner with Deloitte Touche Tohmatsu Certified Public Accountants Ltd. in China told an SEC administrative hearing that the firm acted in good faith when it registered with the PCAOB in 2004. The People’s Republic of China prohibits the direct production of audit firm paperwork to foreign regulators like the SEC and PCAOB, and Deloitte’s […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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