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EY US Chair Forges Ahead Post Split with Revamped Leadership

Ernst & Young’s US Chair Julie Boland has tapped two of the firm’s top leaders to streamline the firm’s operations as part of a leadership revamp rolled out this week.

The City of London Lost Its Way on the Path to Racial Equity

In 2020, just after George Floyd’s murder in the US, one of the most senior Black professionals in the City of London, KPMG UK Partner and Vice-Chair Richard Iferenta, appealed to CEOs and chairpeople of the business community “to stamp out racism of all forms.” Three years later, he has yet to see the change and ambition he asked for.

Accounting Rules for Roads, Sewers Eyed by US Standards Body

State and local governments could get formal rules on how to account for building and maintaining roads, bridges, sewer systems, and other infrastructure assets in their financial statements, the US governmental accounting standard-setter announced Thursday.

Kyle Bass Says SEC ‘Blew It’ Twice in Handling of UDF Scandal

Activist investor Kyle Bass said the Securities and Exchange Commission was too lenient with a fraudulent Texas real estate fund he exposed years ago and is now botching his attempts to be paid as a whistleblower.

Australia Replaces Tax Board Boss in Run-Up to Senate PwC Probe

The Australian government said Friday that it had replaced the head of the body that regulates tax practitioners, just days before the opening of a parliamentary probe into the government’s use of outside consultants.

PRACTITIONER INSIGHTS

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Caroline Bruckner
American University, Kogod School of Business Tax Policy Center

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Spotlight on Boston Tax Controversy Attorney Kathleen Gregor

Our Spotlight series highlights the careers and lives of tax professionals around the world. This week’s Spotlight is on Kathleen “Kat” Gregor, a tax controversy attorney and litigator at Skadden, Arps, Slate, Meagher & Flom in Boston.

FINANCE BRIEFING: Debt Deal Takes Shape With Two Year Cap

Republican and White House negotiators are moving closer to an agreement to raise the debt limit and cap federal spending for two years, according to people familiar with the matter. The details agreed to are tentative and a final accord is still not in hand. Plus, the two sides have yet to agree on the amount of the cap.

The City of London Lost Its Way on the Path to Racial Equity

In 2020, just after George Floyd’s murder in the US, one of the most senior Black professionals in the City of London, KPMG UK Partner and Vice-Chair Richard Iferenta, appealed to CEOs and chairpeople of the business community “to stamp out racism of all forms.” Three years later, he has yet to see the change and ambition he asked for.

Accounting Rules for Roads, Sewers Eyed by US Standards Body

State and local governments could get formal rules on how to account for building and maintaining roads, bridges, sewer systems, and other infrastructure assets in their financial statements, the US governmental accounting standard-setter announced Thursday.

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Luxury Concierge Service Was Illegal Private Bank, US Says (1)

A businessman who claimed to operate a high-end concierge service featuring custom credit cards crafted from solid gold was actually operating an illegal private bank that provided discreet financial services to high-net-worth customers, prosecutors said.

FINANCE BRIEFING: Debt Deal Takes Shape With Two Year Cap

Republican and White House negotiators are moving closer to an agreement to raise the debt limit and cap federal spending for two years, according to people familiar with the matter. The details agreed to are tentative and a final accord is still not in hand. Plus, the two sides have yet to agree on the amount of the cap.

Black Tax Pro Highlights Benefits of Small Business

SEC Top Accountant Talks Banking Crisis, Audit Worries

'Data Nerd’ Regulator Preps for Digital Auditing Future

How 40 Years of Tax Cuts Have Exacerbated Inequality