The Wednesday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

PwC Israel Busted for Cheating Fined $2.8M

Turns out PwC Israel employees spent five years sharing answers on internal training exams…yep, the ones covering auditing standards and ethics (oh, the irony). The PCAOB caught wind of it and slapped them with a $2.8 million fine. Now PwC has to revamp its whole training system to prevent future “teamwork.”

Moral of the story? If you’re an auditor, maybe don’t cheat on ethics exams. Seems obvious... but apparently not.

Source: Accounting Today

💎 What’s poppin in accounting

IRS Contractor Leaks Data of 400,000+ Taxpayers

Remember Charles Littlejohn? The IRS contractor who leaked Trump's tax returns? Turns out, he didn't stop there. The IRS just revealed he also exposed data on over 400,000 other taxpayers, mostly businesses. That's six times more than initially reported.

Littlejohn's now serving a five-year sentence for his actions. The IRS has notified those affected, but this massive breach raises serious questions about data security and privacy at the agency.

Source: Bloomberg Tax

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 📊 Weekly Trend Chart

China's Skyline Supremacy

China’s not just building tall, they’re building fast. Cities like Hong Kong and Shenzhen are stacking skyscrapers to keep up with booming populations and business demand. But it’s also a status game, cities competing with flashy designs and record breaking heights.

Problem is, some towers sit empty, and the government’s cracking down on “vanity projects.” Growth is good, but not when buildings turn into ghost towers.

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