Now that I say that, what if I'm wrong? That'd be pretty cool! PLEASE LET ME BE WRONG.
One possible alternative title for Accounting Today's "scorecard for new SEC audit clients" would be "Jesus, PwC and Deloitte Lost a Lot of Audit Clients Last Year." I'll go out on a limb and say that it probably didn't even make the short list.
We've grown accustomed to Big 4 people dropping huge hiring numbers in order to get oooohs and ahhhhhs out of media people and Joe Echevarria was on Bloomberg TV today doing more of the same:
Just when you thought Deloitte's China rash had gone into remission, some investors come along who don't think too highly of the audit performed by D to the T.
Oh and p.s., you'll be missing that Valentine's Day dinner this evening.
Depends on the friend, of course.
Remember how Deloitte's AICPA Peer Review finding of "pass with deficiency" was one of the lowliest of low points for the year in auditing? Sure you do.
Remember last week when the New York Times published a report that quoted one Deloitte employee who got a lot of reading done while working on JP Morgan Chase's Independent Foreclosure Review? Deloitte didn't care for that characterization.
Thankfully, the PCAOB will not be inspecting this.