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Happy Accounting Day to those who observe it.

Accounting Day (May 19) shouldn’t be confused with International Accounting Day (November 10). The latter is a trade promotion scheme backed by organisations including the Chartered Institute of Management Accountants and the Certified Public Accountants Association, whereas the former is a trade promotion scheme backed by organisations including the Institute of Management Accountants and the Institute of Internal Auditors. Double entry diary-keeping means that, like the Queen, accountants get two birthdays.

Coincidentally, May 19 is also the anniversary of when the FT pulled the trigger on a watershed story of Dan McCrum’s Wirecard series: the publication of an internal spreadsheet showing three stooge companies were providing half of revenues. It’s also the anniversary of news that Indian authorities had frozen the assets of BR Shetty, founder of NMC Health, after the UK-listed company was discovered to be hiding more than $4bn of debt. It’s also the anniversary of Nasdaq’s forcible delisting of Luckin Coffee after the Chinese chain admitted to falsifying sales.

EY (auditor to Wirecard, NMC Health and Luckin Coffee; in all three cases it has denied any wrongdoing) prefers to mark its professional birthday in November.

Elsewhere on Thursday . . . 

Insiders trade and bag-carriers carry

— A tale of crypto, coke, quack Covid cures and maybe buried gold

— Breaking down Allianz’s Structured Alpha debacle

— Jan-Werner Müller on Europe at war

— UK inheritance tax is too high and too avoidable

One UK stock to rule them all (spoiler: it’s Glencore)

— Spotting corporate misconduct with Glassdoor reviews

— In technicolour HTML5, The Economist puts on The Putin Show

— The secret to being an investment consultant is to cheat

— We’re late to this excellent infographic on short seller reports

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