In honor of throwback Thursday let me take you on a journey down memory lane to reminisce about Office Space, a light hearted and irreverent comedy starring Ron Livingston and Jennifer Aniston.
Who hasn’t felt the sheer sense of dread hitting the "install now" button on an iPhone (especially after hearing the horror stories floating around about iOS 9)?
Sometimes I get the impression that the Big 4 don’t fully appreciate what the PCAOB’s supposed to do as a regulator.
Last week the PCAOB approved its 2016 budget and also its "strategic plan" through 2019. That might sound like a more potent sleeping aid than tryptophan, but sometimes board members say interesting things worth sharing and, today, we have one for you.
SEC Chief Accountant James Schnurr says that, although "there's room for improvement" audit quality "is getting better" and the PCAOB has "deepened their expertise" and "their inspection process has matured."
As you've probably heard by now, materiality's definition is up for debate. Back in September, the FASB said they'd like to go with the Supreme Court's definition and investor advocates think that's a terrible idea.
Audit firms still seem to be getting used to having a regulator that watches their every move. Or failure to move in the case of BDO Auditores, SLP (aka "BDO Spain").
Doesn't make much sense, does it?
But they did!
The PCAOB, bless their hearts, released a forgettable inspection report from PwC today.