{"id":28756,"date":"2017-12-11T15:36:05","date_gmt":"2017-12-11T20:36:05","guid":{"rendered":"http:\/\/olduvai.ca\/?p=28756"},"modified":"2017-12-11T15:36:05","modified_gmt":"2017-12-11T20:36:05","slug":"bean-counters-lost-in-paradise","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=28756","title":{"rendered":"Bean counters: Lost in Paradise"},"content":{"rendered":"<div class=\"bigfeaturedimage\">\n<header class=\"entry-header\">\n<div class=\"single-head-data\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/renegadeinc.com\/bean-counters-lost-paradise\/\">Bean counters: Lost in Paradise<\/a><\/h3>\n<\/div>\n<\/header>\n<\/div>\n<div class=\"p1200content\">\n<div id=\"primary\" class=\"content-area\">\n<article id=\"post-5921\" class=\"post-5921 post type-post status-publish format-standard has-post-thumbnail hentry category-economics-finance tag-accounting tag-accounting-standards tag-aggressions-dynamics tag-appleby tag-atul-k-shah tag-auditing-practices-committee tag-australian-national-university tag-barclays tag-bill-clinton tag-bradley-foundation tag-british-virgin-islands tag-captain-fritz tag-caymans-islands tag-chuka-umunna tag-commodities-future-trading-commission tag-congress tag-control-fraud tag-debt-resistance-uk tag-democrats tag-ed-balls tag-emile-woolf tag-england tag-enron tag-ernst-young tag-fannie-mae tag-financial-services-authority tag-flash-crash tag-freddie-mac tag-global-financial-crisis tag-gordon-brown tag-halifax-bank-of-scotland tag-hbos tag-hogans-heros tag-hyper-velocity-trading tag-i-know-nothing tag-institute-of-chartered-accountants tag-jersey tag-koch-brothers tag-kpmg tag-luxembourg tag-margaret-hodge tag-michael-renshaw tag-national-office-under-reinventing-government tag-new-democrats tag-new-labour tag-offshore-tax-havens tag-panama tag-panama-papers tag-paradise-papers tag-professor-john-braithwait tag-professor-william-k-black tag-pwc tag-rbs tag-republicans tag-richard-spillenkothen tag-sarbanes-oxley tag-savings-and-loan-crisis tag-seargent-schultz tag-security-exchange-commission tag-special-purpose-vehicle tag-the-isle-of-man tag-the-us-justice-department tag-tony-blair tag-us-federal-reserve tag-wales tag-worldcom leadstories-lead-story pmpro-has-access\">\n<div class=\"entry-content\">\n<p class=\"selectionShareable\"><em>Long before the Paradise Papers, or the Panama Papers, the Enron scandal, Savings and Loan crisis, WorldCom, and the Global Financial Crisis, governments in the US, UK and Australia were colluding with the world\u2019s biggest banks and their clients using aggressions dynamics not to defeat but to suborn the controls of the supposedly independent professionals: The accountants.<\/em><\/p>\n<figure id=\"attachment_5924\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-5924\" src=\"https:\/\/renegadeinc.com\/wp-content\/uploads\/2017\/11\/paradise-1024x768.png\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" srcset=\"https:\/\/renegadeinc.com\/wp-content\/uploads\/2017\/11\/paradise-1024x768.png 1024w, https:\/\/renegadeinc.com\/wp-content\/uploads\/2017\/11\/paradise-300x225.png 300w, https:\/\/renegadeinc.com\/wp-content\/uploads\/2017\/11\/paradise-640x480.png 640w, https:\/\/renegadeinc.com\/wp-content\/uploads\/2017\/11\/paradise-960x720.png 960w, https:\/\/renegadeinc.com\/wp-content\/uploads\/2017\/11\/paradise-200x150.png 200w\" alt=\"\" width=\"640\" height=\"480\" \/><figcaption class=\"wp-caption-text\">Illustration by Rachael Bolton<\/figcaption><\/figure>\n<p class=\"selectionShareable\">The great swathes of coverage being given to the Paradise Papers largely focuses attention on its beneficiaries and the specialised offshore marketers of the schemes, but scant attention has been directed towards The Big Four global accounting firms like Pricewaterhouse Coopers (PWC), Ernst &amp; Young (EY), Deloitte and KPMG, that enabled tax dodging by aggressively marketing schemes in Luxembourg, Panama, Jersey, the Cayman Islands and the British Virgin Islands to their clients using firms like Appleby as conduits.<\/p>\n<p class=\"selectionShareable\">Long before the Paradise Papers, or the Panama Papers, the Enron scandal, Savings and Loan crisis, WorldCom, and the Global Financial Crisis (GFC) governments in the United States, the UK and Australia were colluding with the world\u2019s biggest banks and their clients using aggressions dynamics not to defeat but to suborn the controls of the supposedly independent professionals: The accountants.<\/p>\n<p class=\"selectionShareable\">They aren\u2019t just designing new tax avoidance schemes the likes of which feature in the Paradise and Panama Papers. The Big Four accountancy firms are lobbying for and directly drafting the very regulations and loopholes that enable them.<\/p>\n<p><strong>How to run a control fraud<\/strong><\/p>\n<p class=\"selectionShareable\">The best way to run a control fraud is to turn the independent professionals that provide internal and external controls \u2013 auditors, appraisers, and credit ratings agencies \u2013 into allies, and use their reputation, alleged professionalism and independence to assist you in convincing the victims of your fraud, to trust you.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bean counters: Lost in Paradise Long before the Paradise Papers, or the Panama Papers, the Enron scandal, Savings and Loan crisis, WorldCom, and the Global Financial Crisis, governments in the US, UK and Australia were colluding with the world\u2019s biggest banks and their clients using aggressions dynamics not to defeat but to suborn the controls [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3758,63,17451,15656,11652,2240,13259,17448,17447,17449,17450],"class_list":["post-28756","post","type-post","status-publish","format-standard","hentry","category-economics","tag-accounting","tag-banks","tag-bean-counters","tag-claire-connelly","tag-enron","tag-global-financial-crisis","tag-panama-papers","tag-paradise-papers","tag-renegade-inc","tag-savings-and-loan-crisis","tag-world-com"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28756"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28756\/revisions"}],"predecessor-version":[{"id":28757,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28756\/revisions\/28757"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}