Cast Art Industries, LLC Scott Sherman Gary Barsellotti and Frank Colapinto vs. KPMG LLP John Quinn John Shaw Ed Lazor F...
...of $31.8 million was entered against KPMG in this case which was brought in the Superior Court of New Jersey, Middlesex County. Plaintiffs, which included Cast Art Industries, LLC (“Cast Art”) and its shareholders, brought suit against KPMG, as an auditor, for failing to detect fraudulent misstatements
Published on October 15, 2009
Jury Verdict Against KPMG for Negligent Misrepresentations in Audit Report
Failure to detect misstatements in financial statements result in a $38.8M jury verdict in the Cast Art Industries, LLC vs. KPMG LLP case
Published on October 04, 2010
Information on Lawsuits on Specific Tax Strategy Patents
This page contains information on lawsuits concerning the SOGRAT and Fort Properties Section 1031 likekind exchange deedshare patents, as well as other information on specific tax strategy patents.
Published on September 19, 2014
AICPA Opposes Joint Tax Committee Self-Employment Tax Proposals to Help Close the Tax Gap
The AICPA opposed proposals made by the Joint Tax Committee that would expand the self-employment tax base as part of an effort to close the tax gap.
Published on June 15, 2007
Two AICPA Panels Disagree with GASB Proposal on Financial Projections
The CPA Advocate: June, 2012. Proposed required components of forward-looking information intended to assist users in assessing a government's fiscal sustainability do not meet GASB's definition of "required supplementary information."
Published on June 13, 2012
House Small Business Subcommittee Holds Hearing on Cash Accounting for Small Firms
The CPA Advocate: July, 2014. Two CPAs testified and the AICPA’s testimony submitted for the hearing record supported the expansion of the number of taxpayers that may use the cash method of accounting.
Published on July 30, 2014
AICPA Urges Congress to Make S Corporation Reforms
AICPA provides written testimony before Congress in support of the Subchapter S Modernization Act of 2003.
Published on June 22, 2005
AICPA Suggests Improvements to Form 1023
On December 2, 2002, AICPA makes suggestions to the IRS for improvements to Form 1023, the Application for Recognition of Exemption for nonprofit organizations.
Published on November 12, 2012