Editor’s Note: The following cartoon was drawn by Jack Britton, a former Big 4 auditor. You can visit his blog, colorcartoon.blogspot.com for more of his work. You can also follow him on Twitter @rumblebozzle.
Occasionally, being a staff auditor involves having awkward conversations with controller/CFO types. You have to ask them about fraud, legal matters, SEC inquiries, etc. etc. Regardless of the tomfoolery going on at the client, these people will not be telling you about it.
If this empty interrogation goes on long enough, the interviewee’s boredom (and possible physical reaction from lying so much) may cause uncontrollable fidgeting, as illustrated above. Discuss your awkward inquiry experiences with your clients in the comments. Especially the ones where you jumped on the conference room table and screamed ‘LIAR!’
Schapiro Aide Said to Be Leaving SEC for PwC Accounting Firm [Bloomberg]
Kayla J. Gillan, a senior adviser to U.S. Securities and Exchange Commission Chairman Mary Schapiro, is resigning to take a job at PricewaterhouseCoopers LLP, according to people familiar with the matter. Gillan will be a principal in a new group at the firm focusing on regulations affecting auditing firms, according to one of the people, who spoke on condition of anonymity because the move hasn’t been announced.
Grant Thornton Plans Global Brand Repositioning [AT]
Grant Thornton LLP is planning a major marketing campaign later in the year to reposition the Chicago-based firm around the world. “Look for a major brand repositioning for us in the fall,” CEO Stephen Chipman said in an interview.
GE’s Immelt resigned from NY Fed board last month [Reuters]
Immelt had been a member of the New York Fed’s board since January 2006, helping provide anecdotal input to policymakers about developments in the U.S. and global economy. “I am, with great regret, tendering my resignation as a member of the Board of Directors of the Federal Reserve Bank of New York given the increased demands on my time,” Immelt wrote in a letter to New York Fed President William Dudley dated March 9.
Crocs Q1 beats estimates, but Q2 profit view falls short [Reuters]
The company also said it named Jeff Lasher as its new chief financial officer. He was Crocs’ principal accounting officer and interim principal financial officer since January 2011.
House Republicans grill IRS on healthcare reform funds [The Hill]
Republicans on the Ways and Means Committee wrote to IRS Commissioner Douglas Shulman on Thursday demanding to know how much money the Internal Revenue Service is getting from Democrats’ healthcare reform law. The law created a $1 billion Health Insurance Reform Implementation Fund, and the letter alleges that the IRS has already received “tens of millions of dollars from this fund to implement parts of the health care overhaul.” The funding is believed to be on top of the $473.3 million the IRS would get in healthcare related funding under President Obama’s 2012 budget.
William’s Royal Giggle Fest [TDB]
According to The Guardian, the workers who made the dress had to wash their hands every 30 minutes to keep the lace clean. As Kate entered Westminster Abbey, the cameras respectfully panned away from Prince William, who seemed to suffer an attack of the giggles as his future wife made her way up the aisle. When the couple were finally face to face, William mouthed, “You look beautiful,” and a billion hearts melted around the globe.