Madoff’s 5 best ideas to make markets fair [MW]
Includes: "Accounting firms should audit other accounting firms. — Accounting firms should be enlisted to check on their peers, which would make sure audits have been conducted properly, suggested Madoff. 'But these firms use the excuse of competition. If accounting firms keep each other in check, a proper audit would uncover most of the fraud that exists — including my own fraud.' "
What Enron and the IRS Have in Common [WSJ via Tony Catanach]
Headed up by white guys with thinning hair?
The end game [China Accounting Blog]
Professor Paul Gillis predicts that the SEC will get the workpapers they want from the Big 4's Chinese affiliates and the PCAOB will be allowed to perform joint inspections after some U.S.-China meetings in July.
A dozen public accounting ideas that don’t work anymore [CPA Insider]
A lot of no brainers here, including face time and "hours-based measures" but they all bear repeating.
Man, this guy really deserves a kick in the shins.
Beswick: “Change fatigue” a barrier to IFRS in U.S. [JofA]
[SEC Chief Accountant Paul] Beswick said that new SEC Chairman Mary Jo White is working through other priorities such as money market fund reform, cross-border filings, and staffing at the SEC. He also said White’s initial efforts should not be taken as a sign of whether IFRS is a priority for the SEC. Beswick said convergence is important, but said financial statement preparers report “change fatigue” in the financial reporting system as they deal with the many fundamental standards changes FASB already is issuing.
Here's What Daft Punk Look Like Without Their Helmets [Gawker]
FYI.