Congress wants financial reporting simplified for easier under­stand­ability. I can’t honestly say their desire for more regular updates on what the industry is doing to modernize itself is a bad thing, however. Seems like a good prod for the stiff collars at the helm. Here in Canada, there are rumors the federal government may tie the […]

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The Accounting Observer has invented a new term: Sarbitching. I love it!

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At least one person is defending Putin’s actions against Yukos and its former president, Mikhail Khodor­kovsky, but it was this that caught my eye (emphasis mine): Russian oligarchs were taking control of the entire Russian economy. These people had a strangle hold on every aspect of Russia and were basically out of reach of the […]

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The Russian tax authority has accused Price­wa­ter­house­C­oopers of providing “false audits” to the former oil giant Yukos. I’m sure we’ll find out sooner or later whether these accusa­tions have any merit, but for the time being any government insti­tution in Russia is most definitely not getting the benefit of my doubt. Putin and his regime are […]

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So everyone and their grandpa is still upset about the recent change to income trusts intro­duced by the Canadian federal government. The change was, of course, to implement a tax on trust income similar to corporate income tax. The outrage epicentre is Bay Street, Canada’s version of Wall Street, in the heart of the financial […]

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