Comments for Audit Profession News & Events http://inaudit.com Mon, 01 Oct 2012 12:47:44 +0000 hourly 1 http://wordpress.org/?v=3.2.1 Comment on Digital Media Expected to Drive Future Growth of Technology by Kevin Fryer /reports/digital-media-expected-to-drive-future-growth-of-technology-25182/#comment-8574 Kevin Fryer Mon, 01 Oct 2012 12:47:44 +0000 /?p=25182#comment-8574 I think it's great that CEOs of companies are open minded to the thought of having a digital future. I think it’s great that CEOs of companies are open minded to the thought of having a digital future.

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Comment on World Bank Statement of September 25, 2012 on Padma Bridge by Haidar Ali /events/world-bank-statement-of-september-25-2012-on-padma-bridge-26127/#comment-8536 Haidar Ali Fri, 28 Sep 2012 06:24:12 +0000 /?p=26127#comment-8536 I think Bd govt should help the investigation panel heartly otherwise investigation report will not be positive.People have the rights to know the real fact n we want to know about the letter which was given by WB.It's so sad that govt explain wrongly about come back of WB in financing of Padma Bridge.pls give us real info. I think Bd govt should help the investigation panel heartly otherwise investigation report will not be positive.People have the rights to know the real fact n we want to know about the letter which was given by WB.It’s so sad that govt explain wrongly about come back of WB in financing of Padma Bridge.pls give us real info.

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Comment on iPhone 5′s Biggest Frustration: ‘Lack of NFC Chip for Mobile Payments’ by Ryan Harding /audit/it-audit/iphone-5s-biggest-frustration-lack-of-nfc-chip-for-mobile-payments-25375/#comment-7966 Ryan Harding Mon, 17 Sep 2012 18:01:12 +0000 /?p=25375#comment-7966 It was a but disappointing to hear of the lack of NFC chip on the new iPhone. I'm not an iPhone user but I think it would have helped in making NFC more mainstream. In my business, I have encountered only a handful who had NFC-enabled phones and even they preferred to use their cards for paying. I would like to get a NFC-enabled POS someday when NFC technology becomes more mainstream for now I am quite happy with my mPowa (www.mpowa,com) mobile card reader. It was a but disappointing to hear of the lack of NFC chip on the new iPhone. I’m not an iPhone user but I think it would have helped in making NFC more mainstream. In my business, I have encountered only a handful who had NFC-enabled phones and even they preferred to use their cards for paying. I would like to get a NFC-enabled POS someday when NFC technology becomes more mainstream for now I am quite happy with my mPowa (www.mpowa,com) mobile card reader.

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Comment on SIPC to Counter SEC Appeal by Bobby Allison /regulatory/sipc-to-counter-sec-appeal-24265/#comment-7548 Bobby Allison Tue, 04 Sep 2012 16:42:34 +0000 /?p=24265#comment-7548 I hope the clients get their money back.....BUT is SIPC really responsible? No! THE SEC is. Seven whistle blowers go to the SEC. FINRA, and the States from 1997 to 2005, Over eight-hundred regulator beauracrats sitting in their butts in Texas alone. The SEC audited Stanford twice and did nothing....or could not find any troubling issues! Are you kidding me!!!!!!! MAKE the SEC pay and others. Absolutely mind blowing! I hope the clients get their money back…..BUT is SIPC really responsible? No! THE SEC is. Seven whistle blowers go to the SEC. FINRA, and the States from 1997 to 2005, Over eight-hundred regulator beauracrats sitting in their butts in Texas alone. The SEC audited Stanford twice and did nothing….or could not find any troubling issues! Are you kidding me!!!!!!! MAKE the SEC pay and others. Absolutely mind blowing!

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Comment on Uruguay Going Green, Diversifying Energy Mix by Consolidamento /featured/uruguay-going-green-diversifying-energy-mix-23356/#comment-7084 Consolidamento Sat, 18 Aug 2012 17:15:08 +0000 /?p=23356#comment-7084 Finally! Finally!

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Comment on Kenya to Launch Rapid Road and Rail Transport to Ease Traffic by samuel kavoi /featured/kenya-to-launch-rapid-road-and-rail-transport-to-ease-traffic-22775/#comment-6932 samuel kavoi Tue, 07 Aug 2012 09:57:59 +0000 /?p=22775#comment-6932 Kenya is in the road to economic development. Kenya is in the road to economic development.

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Comment on AICPA Recommends IRS Delay Matching of Documents Reporting Capital Gains and Losses by susie bell /blog/aicpa-recommends-irs-delay-matching-of-documents-reporting-capital-gains-and-losses-22564/#comment-6884 susie bell Mon, 06 Aug 2012 19:56:37 +0000 /?p=22564#comment-6884 The disparate reporting requirements between what brokers must provide and what taxpayers are ultimately responsible for continue to cause problems. Countless extensions were filed this past April but as the October 15th deadline draws closer, time is running out to get things in order. There are cost basis calculators available out there. One even has an 8949 verifier to deal with the issues surrounding the 8949 forms. From the sound of it, taxpayers could use all the help they can get. With the recent release of the Tax Gap report from the IRS (June 2012), cost basis reporting is at the top of the list on IRS priorities to rake in that untapped tax revenue they so desperately need. That makes it all the more important for taxpayers to get it right! The disparate reporting requirements between what brokers must provide and what taxpayers are ultimately responsible for continue to cause problems. Countless extensions were filed this past April but as the October 15th deadline draws closer, time is running out to get things in order. There are cost basis calculators available out there. One even has an 8949 verifier to deal with the issues surrounding the 8949 forms. From the sound of it, taxpayers could use all the help they can get.

With the recent release of the Tax Gap report from the IRS (June 2012), cost basis reporting is at the top of the list on IRS priorities to rake in that untapped tax revenue they so desperately need. That makes it all the more important for taxpayers to get it right!

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Comment on After 10 Years, What Has Sarbanes-Oxley Act Achieved? by Hal Garyn /events/after-10-years-what-has-sarbanes-oxley-act-achieved-22373/#comment-6870 Hal Garyn Mon, 06 Aug 2012 15:56:35 +0000 /?p=22373#comment-6870 It is great to see The IIA's written testimony to this subcommittee being picked up by 'inaudit.' There is a particular sentence in the testimony that should be brought out, as part of the subcommittee's focus with this hearing was to gain insights on the impacts (benefits and burdens) of SOX at its10 year anniversary. That sentence reads, "Like any piece of significant legislation, there likely remain opportunities to better focus some aspects of the legislation and related regulations, clarify its intent, and reduce the associated costs." The entire written testimony can be viewed on The IIA's website at: http://bit.ly/OGRRf9. It is great to see The IIA’s written testimony to this subcommittee being picked up by ‘inaudit.’ There is a particular sentence in the testimony that should be brought out, as part of the subcommittee’s focus with this hearing was to gain insights on the impacts (benefits and burdens) of SOX at its10 year anniversary. That sentence reads, “Like any piece of significant legislation, there likely remain opportunities to better focus some aspects of the legislation and related regulations, clarify its intent, and reduce the associated costs.” The entire written testimony can be viewed on The IIA’s website at: http://bit.ly/OGRRf9.

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Comment on NASDAQ After Hours Most Active for Aug 2 by StatsTrade /economy/nasdaq-after-hours-most-active-for-aug-2-22611/#comment-6831 StatsTrade Fri, 03 Aug 2012 12:31:30 +0000 /?p=22611#comment-6831 1. Nokia still holds valuable IP / patents. 2. Seems like the average analyst opinion is around "hold", or even slightly positive, depending on your sources. 3. Nokia's div. yield has always been OK, but with the recent drop in the stock, its div. yield beats most of the competitors. All in all, seems like an interesting opportunity to join Nokia. Even Nate, StatsTrade's (free) robot-analyst, reported a low-confidence BUY sentiment on the stock very recently. 1. Nokia still holds valuable IP / patents.

2. Seems like the average analyst opinion is around “hold”, or even slightly positive, depending on your sources.

3. Nokia’s div. yield has always been OK, but with the recent drop in the stock, its div. yield beats most of the competitors.

All in all, seems like an interesting opportunity to join Nokia.

Even Nate, StatsTrade’s (free) robot-analyst, reported a low-confidence BUY sentiment on the stock very recently.

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Comment on World Bank Grants Malawi $150m for Economic Recovery by Arnold P. Wendroff, PhD /featured/world-bank-grants-malawi-150m-for-economic-recovery-21508/#comment-6688 Arnold P. Wendroff, PhD Wed, 18 Jul 2012 12:15:04 +0000 /?p=21508#comment-6688 The World Bank seems to have overlooked the total lack of wheeled transport on Malawi's subsistence farms, as a major impediment to agricultural productivity. The only appropriate and affordable form of wheeled trahsport for this very poor population is some form of lightweight handcart. The primary source (as well as users and exporters) of the essential handcart wheels is China. Yet the wheels are not imported into Malawi, despite their enormous market potential. Despite positive assessments of handcart use by the Malawi Ministry of Agriculture in 1998, by the World Bank funded Malawi Rural Travel and Transport Programme in 2003, by Bunda College of Agriculture in 2009, no agency has acted to ensure that handcart wheel axle sets are commercially available in Malawi. In essence this condemns Malawian farmers, mostly women, to transport all of their farm inputs and harvested crops into and out of their fields on their heads. This burden is in addition to their daily loads of water and firewood to their homesteads, and their headloading of marketable crops to the marketplace. If the World Bank thinks that Malawi's economic (i.e. agricultural) development can be accomplished by reliance on headloading, it is sorely mistaken. Yet it has made no attempt to assess and implement the only viable transport technology that is both appropriate and affordable to the vast majority of Malawians. It is time to reassess this failure and to act to make handcart wheel-axle sets commercially available, so that affordable, lightweight and rugged handcarts can be manufactured in Malawi, and purchased by Malawian farm families, empowering them and enhancing not only their agricultural productivity, but also their quality of life. World Bank representatives to and in Malawi do not carry their luggage on their arm, nor on their heads. For some four decades they have employed wheeled luggage to transport their luggage. It it time for them to apply that same basic technology -- two wheels on a common axis/axle -- the handcart, to the needs of Malawian farmers! The World Bank seems to have overlooked the total lack of wheeled transport on Malawi’s subsistence farms, as a major impediment to agricultural productivity.

The only appropriate and affordable form of wheeled trahsport for this very poor population is some form of lightweight handcart.

The primary source (as well as users and exporters) of the essential handcart wheels is China. Yet the wheels are not imported into Malawi, despite their enormous market potential.

Despite positive assessments of handcart use by the Malawi Ministry of Agriculture in 1998, by the World Bank funded Malawi Rural Travel and Transport Programme in 2003, by Bunda College of Agriculture in 2009, no agency has acted to ensure that handcart wheel axle sets are commercially available in Malawi.

In essence this condemns Malawian farmers, mostly women, to transport all of their farm inputs and harvested crops into and out of their fields on their heads. This burden is in addition to their daily loads of water and firewood to their homesteads, and their headloading of marketable crops to the marketplace.

If the World Bank thinks that Malawi’s economic (i.e. agricultural) development can be accomplished by reliance on headloading, it is sorely mistaken. Yet it has made no attempt to assess and implement the only viable transport technology that is both appropriate and affordable to the vast majority of Malawians.

It is time to reassess this failure and to act to make handcart wheel-axle sets commercially available, so that affordable, lightweight and rugged handcarts can be manufactured in Malawi, and purchased by Malawian farm families, empowering them and enhancing not only their agricultural productivity, but also their quality of life.

World Bank representatives to and in Malawi do not carry their luggage on their arm, nor on their heads. For some four decades they have employed wheeled luggage to transport their luggage. It it time for them to apply that same basic technology — two wheels on a common axis/axle — the handcart, to the needs of Malawian farmers!

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Comment on Scope of SIPC Protection Reaffirmed by GoodJobBob /regulatory/scope-of-sipc-protection-reaffirmed-20869/#comment-6566 GoodJobBob Thu, 05 Jul 2012 04:07:39 +0000 /?p=20869#comment-6566 OK, maybe some good can come of this. Clearly, the investors had little knowledge of what kind of place Antigua is. This is a "Black" country who transshipped arms to the South African Apartheid government when virtually the entire world was observing an embargo. They allowed Gerald Bull to use their coast for a prototype of a ballistic cannon for Saddam Hussein capable of reaching Israel (the Mossad apparently took care of that by slipping a bullet into his cranium). They allowed John Allen Mohammad to sell genuine Antiguan passports to Allah only knows who while he was recruiting and training Lee Malvo for the DC sniper attacks. They were one of the pioneers of illegal internet gambling. I'm loath to quote Dick Cheney, but if no adult supervision is imposed on this rogue state, "the next warning may be a mushroom cloud." They're poor, desperate, corrupt and have a seat in the UN. Am I the only person who sees that we may someday look back at the Stanford International Bank fiasco and think "US$ 7 billion, is that all?" I know as someone who stood on his roof eleven years ago and watched almost three thousand people die before my eyes, and lived several years in Antigua, I would have to say, "yea, I saw that coming a decade away". OK, maybe some good can come of this. Clearly, the investors had little knowledge of what kind of place Antigua is. This is a “Black” country who transshipped arms to the South African Apartheid government when virtually the entire world was observing an embargo. They allowed Gerald Bull to use their coast for a prototype of a ballistic cannon for Saddam Hussein capable of reaching Israel (the Mossad apparently took care of that by slipping a bullet into his cranium). They allowed John Allen Mohammad to sell genuine Antiguan passports to Allah only knows who while he was recruiting and training Lee Malvo for the DC sniper attacks. They were one of the pioneers of illegal internet gambling.

I’m loath to quote Dick Cheney, but if no adult supervision is imposed on this rogue state, “the next warning may be a mushroom cloud.”

They’re poor, desperate, corrupt and have a seat in the UN. Am I the only person who sees that we may someday look back at the Stanford International Bank fiasco and think “US$ 7 billion, is that all?” I know as someone who stood on his roof eleven years ago and watched almost three thousand people die before my eyes, and lived several years in Antigua, I would have to say, “yea, I saw that coming a decade away”.

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Comment on UK Consumers Turn ‘Professional Bargain and Discount Hunters’ – KPMG by Jack Glennerster /reports/uk-consumers-turn-professional-bargain-and-discount-hunters-kpmg-20822/#comment-6564 Jack Glennerster Wed, 04 Jul 2012 21:15:31 +0000 /?p=20822#comment-6564 The fundamental Facts related to your survey relates to an unfortunate error, be it in banking,building soc. The public at large are well aware that you have to tighten your spending be it in leisure activities, holidays or even spending on a regular visit to the pub. Sad but true Mr. Nobody these days have no money to spare. Fuel bills, are a killer for all in sundry. Food bills will be sky high with the weather being so bad in the U/K., We have to buy imported goods nearly all are from China India etc. The days are gone i`m afraid when when the the U/K could hold it`s head up high with the" logo made in Britten." The future at this time is looking grim, but there is always a light at the end of the tunnel, lets hope it`s green yeah.!! The fundamental Facts related to your survey relates to an unfortunate error, be it in banking,building soc.
The public at large are well aware that you have to tighten your spending be it in leisure activities, holidays or even spending on a regular visit to the pub. Sad but true Mr. Nobody these days have no money to spare.
Fuel bills, are a killer for all in sundry. Food bills will be sky high with the weather being so bad in the U/K.,
We have to buy imported goods nearly all are from China India etc. The days are gone i`m afraid when when the the U/K could hold it`s head up high with the” logo made in Britten.”
The future at this time is looking grim, but there is always a light at the end of the tunnel, lets hope it`s green yeah.!!

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Comment on ‘Healthcare Not Sustainable’ by trish /reports/%e2%80%98healthcare-not-sustainable%e2%80%99-20216/#comment-6424 trish Fri, 22 Jun 2012 07:31:28 +0000 /?p=20216#comment-6424 great report i like this i find it from my health drugs great report i like this i find it from my health drugs

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Comment on Growth in Use of Shared Service Centres Outpaces Traditional Outsourcing As Economy Falters by It Outsourcing Singapore /economy/growth-in-use-of-shared-service-centres-outpaces-traditional-outsourcing-as-economy-falters-19837/#comment-5921 It Outsourcing Singapore Thu, 14 Jun 2012 09:29:55 +0000 /?p=19837#comment-5921 Indeed, there's a rise in 'shared services center' demand in Asia, but so is traditional IT outsourcing. I have yet to see a huge drop in the industry, mainly because alot of work are being outsourced to Asia like India, Philippines or China etc. Indeed, there’s a rise in ‘shared services center’ demand in Asia, but so is traditional IT outsourcing. I have yet to see a huge drop in the industry, mainly because alot of work are being outsourced to Asia like India, Philippines or China etc.

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Comment on KPMG Bolsters Company Turnaround Practice with Four Senior Appointments by Bill Stickers /blog/kpmg-bolsters-company-turnaround-practice-with-four-senior-appointments-19765/#comment-5803 Bill Stickers Tue, 12 Jun 2012 12:39:50 +0000 /?p=19765#comment-5803 "Jon Slatkin joins as a director following a successful stint as ‘Turnaround CEO’ for Titan Outdoor, the fourth largest outdoor advertising firm in the UK". Is this poacher turned gamekeeper?.Slatkin certainly was the "Turnaround CEO" for Titan, presided over the transformation of the former venerable British outdoor advertising company ,Maiden founded in 1927, to the busted wreck that was Titan Outdoor as it entered administration in January 2010 owing over £100m.In less than five years. “Jon Slatkin joins as a director following a successful stint as ‘Turnaround CEO’ for Titan Outdoor, the fourth largest outdoor advertising firm in the UK”.

Is this poacher turned gamekeeper?.Slatkin certainly was the “Turnaround CEO” for Titan, presided over the transformation of the former venerable British outdoor advertising company ,Maiden founded in 1927, to the busted wreck that was Titan Outdoor as it entered administration in January 2010 owing over £100m.In less than five years.

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Comment on Fitness First Announces CVA Proposal by KSA Group /consulting/fitness-first-announces-cva-proposal-19569/#comment-5722 KSA Group Wed, 06 Jun 2012 08:14:36 +0000 /?p=19569#comment-5722 It just goes to show what a valuable tool in the armoury of an IP a CVA is. It can allow the debtor to renegotiate onerous leases and keep the business running. Gyms seemed to have been sound investments before the financial crisis as they had a steady stream of income from memberships. It just goes to show what a valuable tool in the armoury of an IP a CVA is. It can allow the debtor to renegotiate onerous leases and keep the business running.

Gyms seemed to have been sound investments before the financial crisis as they had a steady stream of income from memberships.

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Comment on SEC Charges Anew New York Investment Adviser by Brian Fox /blog/compliance-blog/sec-charges-anew-new-york-investment-adviser-19551/#comment-5705 Brian Fox Tue, 05 Jun 2012 18:29:03 +0000 /?p=19551#comment-5705 Unfortunately this is not surprising given that 80-90% of all audit confirmations are still sent in the mail or by fax from the accounting firms performing the audits, even though electronic confirmations could have helped the auditors catch such frauds. At this point you don't need to go very far to see the long trail of upset investors who lost money due in part to audit confirmation frauds that hid the fraudulent activities of the bad actors from the external auditors. Companies like Olympus, Kmart, Just for Feet, China Biotics, Parmalat, Ahold, Refco, HealthSouth, Satyam, and many more... Unfortunately this is not surprising given that 80-90% of all audit confirmations are still sent in the mail or by fax from the accounting firms performing the audits, even though electronic confirmations could have helped the auditors catch such frauds. At this point you don’t need to go very far to see the long trail of upset investors who lost money due in part to audit confirmation frauds that hid the fraudulent activities of the bad actors from the external auditors. Companies like Olympus, Kmart, Just for Feet, China Biotics, Parmalat, Ahold, Refco, HealthSouth, Satyam, and many more…

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Comment on B3 Industries Calls in KPMG Administrators by Jean Jacques Martin /consulting/b3-industries-calls-in-kpmg-administrators-19314/#comment-5659 Jean Jacques Martin Sat, 02 Jun 2012 10:02:27 +0000 /?p=19314#comment-5659 Hooah, a major issue will be found under the copper price revision Hooah, a major issue will be found under the copper price revision

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Comment on Lawyer, Wall Street Trader, Middleman Settle $32m Insider Trading Case by Bizzkid /blog/compliance-blog/lawyer-wall-street-trader-middleman-settle-32m-insider-trading-case-17694/#comment-5543 Bizzkid Mon, 21 May 2012 00:42:32 +0000 /?p=17694#comment-5543 How do they chose which to settle and one's that go to trial. I would think with the risk of losing they would be more inclined to get the money. http://online.wsj.com/article/SB10001424052970204573704577187663656914288.html How do they chose which to settle and one’s that go to trial. I would think with the risk of losing they would be more inclined to get the money. http://online.wsj.com/article/SB10001424052970204573704577187663656914288.html

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Comment on Millions Pocketed by Hedge Fund Managers by Anonymous 2 /regulatory/sec/millions-pocketed-by-hedge-fund-managers-3744/#comment-5452 Anonymous 2 Sun, 06 May 2012 02:12:40 +0000 /?p=3744#comment-5452 The SEC's goal is to do whatever it can to shut down these smaller companies in order to make their job easier, even by fabricating allegations to do so. The bigger companies are just as guilty, if not of more so fraud, but they just pay a large fine funded by taxpayer money and nothing ever is publicized about the fraud. One the SEC get's the smaller companies shut down all they'll have to do is make allegations again these larger companies and they'll just pay the fines and the SEC will be fat and happy. Our govt is so corrupt it's sickening. The SEC’s goal is to do whatever it can to shut down these smaller companies in order to make their job easier, even by fabricating allegations to do so. The bigger companies are just as guilty, if not of more so fraud, but they just pay a large fine funded by taxpayer money and nothing ever is publicized about the fraud. One the SEC get’s the smaller companies shut down all they’ll have to do is make allegations again these larger companies and they’ll just pay the fines and the SEC will be fat and happy. Our govt is so corrupt it’s sickening.

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Comment on Ex-CSK Management Settles SEC Charges by danaashby /blog/compliance-blog/ex-csk-management-settles-sec-charges-17378/#comment-5218 danaashby Fri, 20 Apr 2012 11:45:13 +0000 /?p=17378#comment-5218 Millions of drivers are breaking the law with no insurance because they don't know this about a savings called "Clearance Auto" online Millions of drivers are breaking the law with no insurance because they don’t know this about a savings called “Clearance Auto” online

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Comment on OFT Refers Private Healthcare Market to Competition Commission by keithmullinss /blog/compliance-blog/oft-refers-private-healthcare-market-to-competition-commission-2-16943/#comment-5095 keithmullinss Tue, 10 Apr 2012 10:20:18 +0000 /?p=16943#comment-5095 By learning from "Penny Health" When it comes to medical insurance, never use the words "experimental" or "investigational" or tell them that you want them to pay for a clinical trial. By learning from “Penny Health” When it comes to medical insurance, never use the words “experimental” or “investigational” or tell them that you want them to pay for a clinical trial.

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Comment on Flat Start for Car Market but Auto Industry Still Upbeat About Future, Says KPMG by jamezjanik /blog/flat-start-for-car-market-but-auto-industry-still-upbeat-about-future-says-kpmg-15691/#comment-4802 jamezjanik Tue, 13 Mar 2012 10:49:06 +0000 /?p=15691#comment-4802 It all boils down to a company's actual experience with a particular vehicle or category of drivers. That is why it pays to shop around for insurance especially at "Clearance Auto" now. It all boils down to a company’s actual experience with a particular vehicle or category of drivers. That is why it pays to shop around for insurance especially at “Clearance Auto” now.

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Comment on ‘Sign of the Times’ For U.S. Economy? by David /reports/sign-of-the-times-for-u-s-economy-15635/#comment-4750 David Fri, 09 Mar 2012 17:43:52 +0000 /?p=15635#comment-4750 Things are looking better for all of us and with these results, hopefully we are moving in the right direction. In retail sales for the travel industry I am seeing a steady increase in ticket sales for our business for concerts and sporting events so hopefully this is another indication of better times to come. - David Things are looking better for all of us and with these results, hopefully we are moving in the right direction. In retail sales for the travel industry I am seeing a steady increase in ticket sales for our business for concerts and sporting events so hopefully this is another indication of better times to come. – David

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Comment on KPMG Releases ‘Film Financing and Television Programming’ by mike hammersley /consulting/kpmg-releases-film-financing-and-television-programming-15544/#comment-4706 mike hammersley Wed, 07 Mar 2012 13:01:06 +0000 /?p=15544#comment-4706 Michael Hamersley From Wikipedia, the free encyclopedia Based on recent court filings, Hamersely apparently himself sold fraudulent tax shelters and threatened to kill Jane, the fiancé of one of Hamersley’s former co workers who apparently killed herself as a result off Hamersley’s threats and acts of intimidation. FACTS. Hamersley was an accountant at KPMG who knowingly promoted and implemented abusive tax shelters for his clients. When the IRS began investigating the tax shelter industry a decade ago, Hamersley decided to try and mask his own involvement with promoting abusive tax shelters by misdirecting governmental attention toward others. Hamersley was angry with David Greenberg because Greenberg had publicly voiced his opposition within KPMG to Hamersley being admitted to the KPMG partnership. Greenberg was thereafter targeted by Hamersley. As Hamersley’s motion demonstrates, he still holds considerable animosity toward Greenberg. But this case is not about Greenberg. This case is about the negligent and intentional acts Hamersley committed toward Jane Holtel, the mother of a child fathered by Greenberg. Attached as Exhibit A is a copy of Ms. Holtel’s suicide note, which sets forth some of the acts of defendants in this case, including actions by Hamersley. Hamersley and the other Defendants engaged in a systematic pattern of harassing and threatening Ms. Holtel, which proximately caused her suicide. KPMG Whistleblower Michael Hamersley
From Wikipedia, the free encyclopedia

Based on recent court filings, Hamersely apparently
himself sold fraudulent tax shelters and threatened to
kill Jane, the fiancé of one of Hamersley’s former co workers
who apparently killed herself as a result off Hamersley’s threats
and acts of intimidation.

FACTS. Hamersley was an accountant at KPMG who
knowingly promoted and implemented abusive tax shelters for his clients. When the IRS began
investigating the tax shelter industry a decade ago, Hamersley decided to try and mask his own
involvement with promoting abusive tax shelters by misdirecting governmental attention toward others.
Hamersley was angry with David Greenberg because Greenberg had publicly voiced his opposition
within KPMG to Hamersley being admitted to the KPMG partnership. Greenberg was thereafter targeted
by Hamersley. As Hamersley’s motion demonstrates, he still holds considerable animosity toward
Greenberg. But this case is not about Greenberg. This case is about the negligent and intentional acts
Hamersley committed toward Jane Holtel, the mother of a child fathered by Greenberg. Attached as
Exhibit A is a copy of Ms. Holtel’s suicide note, which sets forth some of the acts of defendants in this
case, including actions by Hamersley. Hamersley and the other Defendants engaged in a systematic
pattern of harassing and threatening Ms. Holtel, which proximately caused her suicide.

KPMG Whistleblower

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Comment on Ten Tax Tips for Small Business Owners by gquealy /blog/compliance-blog/ten-tax-tips-for-small-business-owners-15415/#comment-4692 gquealy Tue, 06 Mar 2012 02:06:38 +0000 /?p=15415#comment-4692 Thank you for the very useful information for small business owners. We are looking to purchase equipment this year and it is nice to see there is a deduction. Thank you for the very useful information for small business owners. We are looking to purchase equipment this year and it is nice to see there is a deduction.

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Comment on Brothers Charged with Short Selling Violations by John Michael /regulatory/sec/brothers-charged-with-short-selling-violations-14012/#comment-4394 John Michael Mon, 06 Feb 2012 18:39:10 +0000 /?p=14012#comment-4394 Pathetic.. the SEC knows this is going on.. They sit back and watch while thousands of hard working investors take it up the arse to build their investigation.. Then they fine these Scumbag bankers 1/100 of the true amount of money they stole from people who actually work for a living.. FU WS.. Pathetic.. the SEC knows this is going on.. They sit back and watch while thousands of hard working investors take it up the arse to build their investigation.. Then they fine these Scumbag bankers 1/100 of the true amount of money they stole from people who actually work for a living.. FU WS..

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Comment on Mandatory Audit Firm Rotation Too Costly with Minimal Benefit – IIA by dan /regulatory/mandatory-audit-firm-rotation-too-costly-with-minimal-benefit-iia-12870/#comment-4330 dan Thu, 19 Jan 2012 20:35:31 +0000 /?p=12870#comment-4330 There have been many modifications to the independence standards as well as many other auditing, accounting standards, oversight processes and SEC change since the 80's. I don't think you can rely on the circumstances in your example for purposes of applying to today's environment. There have been many modifications to the independence standards as well as many other auditing, accounting standards, oversight processes and SEC change since the 80′s. I don’t think you can rely on the circumstances in your example for purposes of applying to today’s environment.

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Comment on New Alliances Among Auto and Technology Players on the Rise by charles vallins /reports/new-alliances-among-auto-and-technology-players-on-the-rise-12837/#comment-4308 charles vallins Sat, 14 Jan 2012 07:47:53 +0000 /?p=12837#comment-4308 Most people have a smart phone. A green directional beacon is help full from for peak hour travel Most people have a smart phone. A green directional beacon is help full from for peak hour travel

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Comment on Mandatory Audit Firm Rotation Too Costly with Minimal Benefit – IIA by Pat Fogarty /regulatory/mandatory-audit-firm-rotation-too-costly-with-minimal-benefit-iia-12870/#comment-4287 Pat Fogarty Wed, 11 Jan 2012 15:28:46 +0000 /?p=12870#comment-4287 I worked for an industrial firm that was audited by Price Waterhouse in the 1980's. The industrial firm obtained some significant influence over the audit firm by hiring all of their key financial chiefs from the audit firm. So an auditor is very likely raising issues with a former co worker or boss at the audited firm. The industrial firm INTENTIONALLY did this hiring to gain this control. Years later the firm was fined $2 million and PW $1 million for financial distortion. To me, it is necessary to rotate audit firms to insure independence. I worked for an industrial firm that was audited by Price Waterhouse in the 1980′s. The industrial firm obtained some significant influence over the audit firm by hiring all of their key financial chiefs from the audit firm. So an auditor is very likely raising issues with a former co worker or boss at the audited firm. The industrial firm INTENTIONALLY did this hiring to gain this control. Years later the firm was fined $2 million and PW $1 million for financial distortion. To me, it is necessary to rotate audit firms to insure independence.

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