Grant Thornton insists client remove Chairman, is removed as auditor

Here’s an interesting story coming out of Dallas: Embattled multi-level marketing firm Mannatech has fired its independent auditor, Grant Thornton, after the auditor gave the company an ultimatum: Remove Chairman and founder Sam Caster from the company or find yourself another auditor. So they found themselves another auditor, BDO Seidman, and let Grant Thornton go. […]

Income trust foreign takeovers may be a good thing

There’s been a lot of activity lately on the income trust front. Foreign firms are making bids left and right to acquire the Canadian entities, in the wake of the 31.5% trust tax introduced by the Conservative government. Jack Mintz, a professor at Rotman, the business school at the University of Toronto, discusses in a […]

Scots tout principles in the Big Apple

The Scotsman: The Institute of Chartered Accountants of Scotland will tell high-powered US financiers at a conference in New York that individual judgment should play a bigger role than strict adherence to a rule book. Ah, this old classic. Once again the rules-based US system is coming under attack by external sources, this time from […]

AMT woes south of the border – what about us?

The Alternative Minimum Tax is getting a lot of coverage in the US since changes made by Reagan in the 80s are causing it to affect 80% of “families with an adjusted gross income of $75,000 to $100,000,” in other words, a lot of frickin’ families. When the tax was first introduced in 1969, it […]