Gary Barnett, the embattled football coach at the University of Colorado, whose program has been investigated for sexual assault and recruiting violations over the past several years, now has Uncle Sam to contend with. The Internal Revenue Service has begun an investigation into two summer football camps that Barnett operates for boys ages eight to 13. Although university officials and the IRS declined to reveal what the investigation has centered on, Barnett's lawyer told the Rocky Mountain News that he thinks the probe is related to media reports that focused on allegations of questionable accounting and lax oversight of camp expenditures. Barnett said that he was cooperating and was "anxious for the truth to get out." The IRS probe follows a report by a Colorado grand jury that criticized how Barnett's football camps tracked money, alleging that the procedures amounted to a "slush fund" for the coaches. The grand jury convened about a year ago to delve into allegations that the CU program freely used sex and alcohol to procure potential recruits.In 2001, three women charged that they had been sexually assaulted by CU football players. Those charges quickly morphed into a series of investigations by the police, prosecutors and the grand jury.
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Internal Revenue Service officials are working to increase compliance of tax-exempt groups as well as for-profit businesses with the help of whistleblowers.
5h ago -
The Public Company Accounting Oversight Board today established a firm consultation process to help provide firms with more timely and consistent guidance.
6h ago -
The Institute of Management Accountants discussed the pros and cons of artificial intelligence with officials, including the new leader of the PCAOB.
7h ago -
The Top 25 Firm acquired Conroe, Texas-based firm Crowl, Cameron & Associates, expanding its presence to 20 offices and across 18 cities in the state.
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Chief financial officers are going negative on the economy, but more upbeat about their own businesses' prospects, according to a Deloitte survey.
June 24 -
The Chartered Institute of Management Accountants chose Alfred Ramosedi as its next president and co-chair of the Association of International Certified Professional Accountants.
June 24





