• Accounting News Roundup: Sad Millennial Investors; Big 4 Frenemy to SEC; DHG Sued for Copyright Infringement | 02.08.18

    By | February 8, 2018

    Holding on to each other, because the markets crushed their dreams.

    Ed. note: ANR will be off tomorrow, returning Monday.

    For Millennial Investors, a Harsh Lesson in Market Gyrations [NYT]
    If you enjoy reading the lament of your millennial brethren, then look no further than this collection of nascent investors. “I feel like my formal education did not educate me at all for investing or planning for my future,” said one. “I don’t think I will be buying or trading on the market again anytime soon,” moaned another.

    Former Lawmaker Who Was Rejected as Ex-Im Bank Chief to Join SEC [WSJ]
    Former New Jersey Congressman and Big 4 frenemy Scott Garrett is said to be taking a senior role at the Securities and Exchange Commission, advising Chairman Jay Clayton. Garrett’s most recent act in DC was the Trump Administration’s nominee to head the Export-Import Bank last year, only to be kicked to the curb by the Senate Banking Committee.

    IFRS Foundation appoints new executive director [CFOJ]
    For those of you tracking the comings and goings of the accounting rulemaking class, Lee White will succeed Yael Almog in April.

    Dixon Hughes Goodman and IIA sued for copyright infringement [AT]
    Compliance Education Institute has accused DHG of “35 instances of plagiarism” from training materials. Allegedly, a manager from DHG’s risk practice obtained certification in CEI’s “Certified Regulatory Vendor Program Manager course,” and then a colleague posted a series of content on the topic using excerpts from the course materials on the firm’s website, and “cit[ed] the DHG employees as co-authors.” The IIA got mixed-up in all this because it posted a version of DHG’s series on its website.

    Previously, on Going Concern…

    Jason Bramwell wrote about controllers who have changed industries.

    Greg Kyte’s Exposure Drafts cartoon noted that not every accountant minds being called a bean counter.

    In Open Items: Should I stay until partner?

    From the archives: Is the PwC Oscar® Team Really Incorruptible?

    In other news:

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