accountants news stories on Newser

Occupy Wall Street Seeks ... Accountant

Dustin Lushing — Wed, 11 Jan 2012 17:25:41 CST

BuzzFeed reports that Occupy Wall Street is on the lookout for its first employee: an accountant. A subcommittee within the movement called the OWS Accounting Working Group is interviewing for the position, although the actual hiring must ultimately be approved by the General Assembly—Occupy Wall Street's decision-making body. Donations...

Madoff Accountant Pleads Guilty, Faces 114 Years

John Johnson — Tue, 03 Nov 2009 12:18:30 CST

Bernie Madoff's accountant says he's a lousy auditor but no criminal. Still, he pleaded guilty to a slew of fraud charges today that could land him in prison for 114 years when he's sentenced in February. While admitting that he failed to conduct independent audits and took the statements of...

Accounting Firm Faces $2B in Lawsuits in Madoff Scam

Matt Cantor — Sun, 23 Aug 2009 08:04:15 CDT

The Canadian branch of the world’s largest accounting firm is facing seven lawsuits for up to $2 billion on behalf of investors who fell victim to Bernard Madoff, the Telegraph reports. PricewaterhouseCoopers Canada was the auditor of a feeder fund, Fairfield Sentry, that directed cash to the Ponzi schemer. PwC...

In '07, Jackson Worth $237M, But Cash-Poor, in Debt

Harry Kimball — Tue, 30 Jun 2009 15:01:01 CDT

As recently as 2007, Michael Jackson had a net worth of $236.6 million, the AP reports. But his finances weren’t that simple. Most of his $567.6 million in assets were tied up in property and rights—he had just $668,215 in cash—and his debt totaled $331...

Accountants May Be Liable in Madoff Fraud

Kevin Spak — Wed, 18 Feb 2009 11:17:06 CST

The many accounting firms that missed Bernie Madoff’s massive scam could be in for a world of legal hurt, experts tell the Wall Street Journal . Madoff’s company was audited by a firm that had just one accountant, and one ex-SEC accountant finds it hard to believe that feeder-fund auditors checked...

Madoff Whistleblower Shrinks From Spotlight

Harry Kimball — Thu, 08 Jan 2009 12:29:01 CST

Harry Markopolos, the accountant who began warning the feds years ago about Bernard Madoff’s Ponzi scheme, wasn’t looking for the limelight, the Boston Globe reports. Not only is he testifying before Congress—he’s also been deluged by book and movie offers. His is “a remarkably compelling story about a guy...

Accounting Degrees Add Up

Peter Fearon — Fri, 06 Jul 2007 05:01:49 CDT

Accounting majors have become the most in-demand kids on campus, and prospective employers are wooing them with lavish parties, free vacations, and promises of handsome signing bonuses. Colleges aren't turning out enough number-crunchers to meet the growing demand, which has skyrocketed in the wake of stricter controls required by Sarbanes-Oxley,...