September 17, 2019

News

Some Accounting Firms Going Out of Their Way to Discourage Employees From Becoming CPAs

You'd think with all the worrying going on in the accounting profession about talent and succession, that firms would be making it easy on the employees they do have to become CPAs. And I think, for the most part, many firms do encourage prospective CPAs with exam prep and exam fee reimbursement, time off to […]

How Would Donald Trump and Hillary Clinton Fit Into Public Accounting? A Brief Analysis

I don't imagine that too many people have given much thought to how Donald Trump or Hillary Clinton would fit into the accounting profession, but Peter Reilly did and I'm grateful:  The only two roles I could see for Trump in public accounting are client from hell or managing partner. Public accounting firms at the […]

Accountants Edge Out Car Salesmen, Personal Trainers in the Dating Pool: Survey

For some unbeknownst reason, Xero surveyed 3,500 people in the US, UK, Australia and New Zealand about their "attitudes and perceptions of accountants and bookkeepers." As if they were going to discover something other than this: Professional stereotypes about the accounting industry are alive and kicking, with a new global survey from Xero revealing that […]

Will KPMG Join Wells Fargo in its Walk of Shame?

In 2011, Going Concern speculated about potential issues with internal controls at Wells Fargo that prompted the then CFO, Howard Atkins, to abandon ship. Just a little foreshadowing of what is happening to good ol’ Wells this month. If you haven’t been following the news, here’s the scoop: Over the last 5 years a handful […]

Here’s How the Accounting Profession’s Political Action Committees Have Been Spending Their Money

With less than two months left until Election Day, you might be wondering, “How much money have accounting firms been throwing around this election cycle?” No? Just me? Okay, then, well this should be fun. Here’s what Open Secrets, a website run by the Center of Responsive Politics, has for contributions by the accounting industry’s […]

PwC Defense Attorney Putting a Lot of Faith in a Florida Jury

Starting Monday, PwC will go trial in Florida over a financial crisis-era case. The plaintiff is the bankruptcy trustee for Taylor Bean and Whitaker Mortgage Corp, who is seeking $5.5 billion in damages, claiming that "PwC was negligent in not detecting a massive fraud scheme that brought down Taylor Bean and helped trigger the 2009 […]

Millennial Health Watch: Keep Extra Large Binder Clips Around, Just in Case

For the past few years, health experts have been warning anyone within earshot that all the sitting we've been doing will be the death of us all. In more recent health news pointed directly at soft and supple-handed white-collar professionals, your grip is being called into question: Young adults in the United States are losing […]

Adapting Agile Project Management to Your Accounting Firm

One of the most difficult problems to solve in client services is how to scope and estimate work properly so that everyone wins. I have to be realistic with our capacity, my team’s skillset, and their time – three things that are difficult to balance. Our client needs to feel like they are part of […]

Don’t Attempt to Steal a CPA Exam Study Book and Expect the Owner to Take It Lightly

Normally, this should all go without saying, but apparently not everyone knows the rules, as evidenced by a report out of Fayetteville, Arkansas: Victor Rudsell walked out to his car on the 1900 block of North Garland Ave. Monday morning, when he saw Joshua Pry inside his car, the report says. Rudsell saw Pry wearing […]

IASB Chairman Not Giving EBITDA the Time of Day

The International Accounting Standards Board thinks it's high time that we all got back to basics. Too much of this non-GAAP nonsense has people thinking they can just throw some numbers around and put labels on 'em. Well, IASB chairman Hans Hoogersvorst, for one, is ready to tighten things up a bit: The IASB, which […]

Millennials Just Want Some Peace and F’n Quiet at Work Already

Among the many stereotypes thrust upon Millennials is their overwhelming desire to be collaborative. For Millennial begrudgers, the sight of a chattering team of 20/30-somethings is like fingernails on a chalkboard. However! A recent survey from Oxford Economics found that actually Millennials would like everyone to buzz off so they could get some work done: […]

New Ethics Rules for Accountants Not Impressing Everyone

Can you ever have too many ethics rules? I don't know if there's a good way to answer that question, but the International Ethics Standards Board for Accountants has been working real hard on some new ones that will roll out this week: The International Ethics Standards Board for Accountants plans to release new standards […]

Tim, The White Walkers’ Accountant, Is Here to Keep Winter Coming

I'm sure I've mentioned this before, but one of the most enjoyable aspects of this job is stumbling across weird things on the internet and sharing them with you fine people. Today, I'm happy to report that there is a video featuring an accountant for the army of the dead from Game of Thrones. This […]

Reminder: Voting on AICPA-CIMA Merger Ends Tomorrow

This hit my inbox today via an AICPA newsletter: Voting closes tomorrowWe're in the final hours. Voting on the AICPA member ballot closes tomorrow, June 16, at 5 p.m. ET. If you haven't done so already, I strongly encourage you to take just a minute to vote. We have so much to be proud of […]

Irrational Clients – Yours, Mine and Ours

As a serious professional you often come across irrational clients. Behavior that’s obviously wrong makes complete sense to them. Sometimes it’s your own clients who have irrational clients as customers. You need to talk them down off the ledge. Here are a few examples. It’s Not Lying if I Neglect to Tell You Something — […]

Even a State Board of CPAs Isn’t Immune From Weak Internal Controls

Anyone hoping for a heavy dose of irony to start their week is going to enjoy this next story. Earlier this month, a tipster pointed us to a press release from the Louisiana Legislative Auditor who found issues with the internal controls at the Louisiana State Board of CPAs, "the entity responsible for licensing and […]

Announcing the Certified Pervert Accountant Awards (aka The C[ree]PAs)

It's a tale as old as time: some accountants are perverts. Back in 2011, Jr Deputy Accountant wrote about SEC accountants browsing through porn at work. A few weeks ago, Caleb brought you the story of the accounting trainee who sent abusive texts and photos depicting disturbing sex scenes. Etc. Etc. Etc. Today I decided […]

Is SOC Report Branding Just Alphabet Soup?

SAS 70 isn’t a thing anymore and hasn’t been for awhile. SSAE 16 superseded the SAS 70 pronouncement in 2011. However, outside of a relatively small cohort of practitioners, how many people actually understand the SOC 1, SOC 2, SOC 3 branding? You guessed it… hardly anyone. And it has been 6 years. I know […]

Someone Should Audit NASBA’s CPA Headcount

Trust but verify! New statistic: How many active #CPAs are there? https://t.co/HaNCD61YrV #accounting pic.twitter.com/Oll8yVutP0 — NASBA (@NASBA) May 25, 2016 This is just too good. A tickmark with an explanation. And there's further explanation on the NASBA website: This statistic is derived from the national database of CPAs, the Accountancy Licensee Database (ALD), and is […]

KPMG to Keep Phil Mickelson in Hats for Foreseeable Future

KPMG is standing by their golfing man. In the aftermath of the news that Phil Mickelson was named as a relief defendant in the SEC's civil lawsuit against famed gambler William "Billy" Walters and Dean Foods chairman Thomas Davis, all of Phil's corporate sponsors are hanging in there. Most notably for our purposes, KPMG issued […]

A Thing We Desperately Wish Were Real: A Photo of Phil Mickelson and Ex-KPMG Partner Scott London Yukking It Up

Texas A&M professor Mike Shaub put the idea in our heads and now we can't get it out: Waiting for the photo of Scott London and Phil Mickelson laughing at a firm event in T minus 5, 4, 3…. And it will be totally irrelevant. — Mike Shaub (@mikeshaub) May 19, 2016 Irrelevant or not, […]

Accountant May Have Mixed Up Her ‘Grocery’ and ‘Buy With Stolen Money’ Lists

Maybe it's because I read a lot of "accountant embezzled funds" articles, but I'm increasingly disappointed in the spending habits of hapless accountants who help themselves to their employers money. The scheme hatched by your average embezzling accountant isn't often well thought out, so I'd expect them to make equally reckless purchases. Sadly, more often […]

What’s the Future of the CPA Brand?

Brand is one of those business concepts that everyone knows about but few understand. When people talk about the Apple BRAND every murmurs approvement and nods as if to say, “That’s a strong brand!” but they’d have a hard time explaining why.

It’s Only a Matter of Time Before Big 4 Firms Offer Legal Services in the US

One of the topics that we occasionally discuss around here is the Big 4 expanding into professional service areas that you wouldn't expect for an accounting firm. In the US, we've seen PwC and Deloitte build enormous digital agencies and just last month, EY announced a partnership with Adobe that will "expand [the firm's] digital […]

Accounting Firm Is Giving Away Paul McCartney Tickets to a Handful of Able-Bodied Auditors

This is what it’s come to: Attention audit senior associates and managers. Connect with Lurie and receive two Paul McCartney row 12 tickets for the Thursday, May 5th concert!  — “Maybe you’ll be amazed!” Meet with our Lurie assurance team before May 5th and then rock out with Paul McCartney of the Beatles at Target […]

AICPA to Senators: Don’t Even Think About Touching Cash-Basis Accounting

Maybe you've noticed, but there are a few things that grind the AICPA's gears: 1. Questioning the integrity of CPAs in a YouTube video, on the radio or anywhere for that matter. 2. Management accounting credentials that are not the CGMA. 3. Nationally syndicated columnists suggesting that anyone is more qualified than a CPA to […]

Don’t Forget: Voting on the AICPA-CIMA Merger Starts on Monday

Over the last few years, we've watched the AICPA and CIMA hamfist the CGMA into our lives. The claim was that it would "raise the bar on management accounting" but all it really did was remind people of the cognitor fiasco from the late '90s/early '00s and invite lots and lots and lots of mockery […]

Surprisingly, Using Alternatives to ‘STFU, Donny’ in Meetings Not That Difficult

You know how some of your colleagues like to hijack a meeting with something unrelated and it throws everything off track? You know how you wish you could inform them that if they don't shut their big trap you'll be forced to rename them "Donny" so you can address them poignantly when they inevitably interrupt […]

Valeant Pretty Sure They Got This Now

Valeant, a pharmaceutical company better known for impressive feats of corporate chicanery that are in no way related to developing drugs, says that its ad-hoc review committee checked out its accounting and determined that everything's a-okay. Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today announced that the ad hoc committee of the board […]

Let’s Review: Personalities, Reply Alls, TurboTax Boycott

Happy April Fools' Day. I really do wish there was a Duolingo Pillow. I also wish Going Concern could take Bitcoins, but I doubt people's feelings on that have changed much. But forget all that, let's squander the rest of this Friday afternoon, shall we? If you want to receive updates on this conversation, hit […]

It’s Probably Just a Coincidence That the Subject of an AICPA Newsletter Was ‘Learn How to Appreciate Staff’ on April Fools’ Day

A friend of GC forwarded us the AICPA News Update from this morning noting the subject line:   To save you eyestrain, it reads: Subject: Learn How to Appreciate Staff During Busy Season Editor’s Note During busy season, practitioners may find their lives temporarily become all work and no play. However, a number of firms […]

Texas Accountant Emerges as Early Contender for 2016’s Worst Person

Brad Harris, the founder and owner of Novus Health Care Services in Frisco, Texas, has been accused of some pretty terrible things in a FBI affidavit for a search warrant obtained by a local affiliate. Specifically, Harris allegedly instructed nurses to give hospice patients overdoses of medications like morphine to hasten their deaths: Harris, an […]

AICPA and CIMA Putting This New Thing to Members for a Vote

Back in November we learned that the joint venture between the AICPA and CIMA that brought the CGMA into the world would experiencing a "natural evolution" into something else. While it sounded a lot like a merger, it's a couple of associations, so it's not really a merger, AICPA President, CEO and chocolate bunny sculptor […]

However the Presidential Election Goes, CPAs Probably Not Moving to Canada

Trump? Clinton? Bloomberg (write-in)? Another to be named later? None of the above? However this dumpster fire of a presidential election turns out, an AICPA survey found that CFOs, controllers and "other CPA executives" are chill: About 64% say the election will factor into business planning for the next fiscal year to some extent. Twenty-six […]

H&R Block CEO Not Impressed With AICPA’s Letter, Vows More Ads

As we told you on Wednesday, the AICPA wasn't too happy about a video from H&R Block that promoted its new service, Block Advisors. In that post, we shared with you a template of the letter the AICPA sent to Bill Cobb, H&R Block's CEO. That letter, among other things, requested that he "remove these […]

Let’s Review: AICPA’s Beef With H&R Block, Crap Pay, Extortion

Since most people have already left work to watch basketball and drink themselves blind, that's the perfect excuse for us to waste the rest of this Friday afternoon pronto. If you want to follow this conversation while you're crying over your bracket, hit the blue button below.

Life at EY Includes Cute Dogs

Nothing really to add here other than it's a legitimate to claim that having this page open is a way to boost your productivity. Submitted Lucy for the #EY #CLE "Cutest Dog" contest – all proceeds benefit #HarvestforHunger! ^RW pic.twitter.com/oW0IGRbkjt — Life at EY (@LifeatEY_US) March 16, 2016

The AICPA Is Not Happy About This H&R Block Video

With about a month until April 15th…I mean, 18th, taxpayers who haven’t filed their returns yet are probably starting to feel the pressure. A big issue for these procrastinators is how they get their tax return prepared: Do they do it themselves? Pay a CPA? Or shop around the tax return discount shops?

Let’s Review: Marketing, Personalities, Jamming Cell Phones

It's about time we squandered the rest of this Friday trying to remember what happened this week.  Drop us a line if you want us to discuss a particular topic and hit the blue button below if you want to receive updates on this conversation.  

CPA Accused of Jamming Cell Phones Just Wanted to Commute in Peace, YOU MONSTERS

Cell phones, you may have noticed, are everywhere. The homeless even have them! You may have also noticed that people use them everywhere, too: while driving, on line at the grocery store, IN THE BATHROOM. It’s insufferable. One place where phones have become increasingly common is on public transit and, to put it mildly, this is an outrage and abomination.

Most Managers Would Prefer If You Could Just Read Their Minds

Think you can do that? If so, that'd be great. A new Interact survey conducted online by Harris Poll with 2,058 U.S. adults — 1,120 of them were employed, and 616 of the employed people were managers — showed that a stunning majority (69%) of the managers said that they’re often uncomfortable communicating with employees. […]

Apparently Accountants Are Terrible on the Phone

I'm surprised as anyone to learn that this is an actual thing: Only 24 percent of American consumers are satisfied with the way accounting firms handle their phone calls, according to a new survey. The study of 2,234 people, conducted by audio branding specialist PH Media Group, found standards in the accounting industry fell below […]

Friday Footnotes: Narcissistic Students; Complext Trusts; Perfect Teams | 03.04.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and LAPD lab test results in Open Items. Narcissistic […]

Let’s Review: Performance Art, Productivity, Binge-Watching

After a week off, we're back to waste a perfectly good afternoon talking about what happened this past week in the world of accounting. If you want to receive updates on this conversation, simply click the blue button below.

#WhatsNext: Accounting Firms and Dress Codes

Last month, we debuted #WhatsNext, a co-production of Thriveal and Going Concern. These are live discussions about the future of the accounting profession featuring Jason Blumer, Greg Kyte and myself. Today we're discussing dress codes — are they important? Are they not? What's the deal? It's been a bit of contentious topic early in 2016, […]

#BusySeasonProblems: Missing Deodorant, Headaches, Camping Out at the Office

It's the last Wednesday in February, so busy season is moving right along. #BusySeasonProblems, on the other hand, seem to be picking up the pace in recent days: I'm 85% sure I forgot deodorant this morning. I'm also about 95% sure I tweeted this exact thing this time last year. #busyseasonproblems — Notorious CPA (@thenotoriouscpa) […]

Friday Footnotes: KPMG Belfast; PTIN Fees Lawsuit; Sleep Deprivation | 02.19.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and statements to the Pope in Open Items. KPMG […]

Let’s Review: IRS Scams, Passing REG, Taxaphobic Millennials

It's never too late to waste the rest of the workday so let's get to it. If you want to receive updates on this conversation, hit the blue button below.

Friday Footnotes: Ikea’s Taxes; CPA Exam Prayers; Where’s That K-1? | 02.12.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest (including a Valentine's Day board) and subscribe to our daily newsletter. Submit questions, career conundrums and busy season love […]

Let’s Review: Office Space, Insider Trading, Hashtags

It's just another Friday during February so let's try to remember all the important things that happened this week. Reminder: you can get email updates for this conversation by hitting the blue button below.

The ‘Everyday Jeans’ Policy Backlash Has Begun

As the culture wars in the accounting profession continue, it was inevitable that concerns would arise around the "Don Your Denim" policies. On Accounting Today earlier this week, one worry that was brought up is that the casual dress policy is allowed "as long as you don’t have a client meeting" and that would discourage […]

Area Police Department Offers Help to Drug Dealers Struggling With Tax Season Preparations

Apparently criminals in the Bourne, Mass. area are not getting the service they need from the local CPAs in a crucial time of year. Any crook worth his salt knows that taxes are to be taken seriously. If they can nail Capone with with tax evasion, they can nail anyone. Luckily, one police department recognizes […]

Reminder: Don’t Let Inside Information Turn Into a Career Limiting Move

The US Supreme Court has agreed to review an insider trading case involving a man who used his brother-in-law's position as a banker at Citigroup to make more than $1.7 million. The Court's decision could redefine insider trading and could possibly make it more difficult for the SEC to prosecute insider traders who pass information […]

Friday Footnotes: CPA Firms Hiring in Charlotte; BS Leadership Lit; Trump Twitter Insults | 02.05.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and Super Bowl predictions in Open Items. Don't forget […]

Let’s Review: Work-Life, Blockchain, BYOD

Once again it's time to waste the rest of our Friday afternoon to take a look back at the week that was. Besides, most people (especially here in Denver) have started drinking in preparation for the Super Bowl. You can follow our riveting conversation by clicking the blue button below. 

Friday Footnotes: Sin Taxes; PwC and Blockchain; Brics and Ticks | 01.29.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and Iowa Caucus predictions in Open Items. Dave Camp […]

Let’s Review: Passive Aggressives, Oscar’s Auditors, Facebook Controllers, More Denim

It's the last Friday in January which means your busy season is about to hit full stride. That means you shouldn't squander the opportunity to chat with us for the rest of the afternoon about what happened this past week. As always, let us know if we missed anything important in the comments and hit […]

#WhatsNext: Will the Cloud Save Accounting?

Our old pal Jason Blumer asked me to be a part of a new project he was starting this year called #WhatsNext. Essentially, it's conversations about the future of accounting that we'll have LIVE, once a month on various topics. He gave me the standard Carl the Greenskeeper pitch (e.g. "There won't be any money…total […]

Crowe Horwath Two Steps Closer to Pure Anarchy

Not be outdone by their crosstown1 rivals, Crowe Horwath announced earlier this week that not only can their employees wear whatever they want, they can work wherever they want, too (subject to approval of course):

How Will Your Team Air Its Grievances This Busy Season?

If you are leading a team this busy season, it's likely that a conflict or two may arise and passive-aggressive behavior may result. When you have a group of people sitting on their asses for hours, day after day, not seeing daylight for months on end, it's inevitable.  When passive-aggressive behavior does happen, there are […]

Friday Footnotes: Questions for the CFTC; Big 4 Partner to CFO; An Ode to Tax Season | 01.22.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and blizzard survival tips in Open Items. Senate committee […]

Let’s Review: Deloitte Demotivation, Denim, Bad Managers

Since our friends out east are already battening down the hatches for snowmaggedon, let's kill this Friday afternoon pronto. If you want to get updates on this conversation, just hit the blue follow button below.

WeiserMazars Partner Charged With His Wife’s Murder

Ugh, this is awful: Any killing would likely have rattled the residents of Scarsdale, which hadn’t seen a homicide in nearly four decades. But the death of New York City pediatrician Robin Goldman was especially shocking for this Westchester County community because of the suspect: her husband, accounting firm partner Julius “Jules” Reich. “People say […]

Report: CPAs Exaggerate Their Success at the Bar, Pretty Much Everywhere

Alright, you guys. Next time you have an encounter like this one that Adam Blitz writes about, I want you to contact us immediately: I recently went to an event with a few managing partners from some local accounting firms. The size of the firms ranged from eight to 30 professionals. Each firm was a […]

Baker Tilly Makes Everyday Denim Dreams Come True

If there's one thing all accountants can get excited about, it's being granted the privilege of donning denim at the office. Time was, no accountant in their right mind would show up to the office in jeans for risk of public shaming. These days, things are less strict although there was a near mutiny in […]

Friday Footnotes: Time to Invest in Handbags; IRS Wait Times; Lovers and Haters of Nickelback | 01.15.16

Wall Street’s Straight Man in Washington [Bloomberg, Earlier] What’s the better investment: The S&P 500, gold, or an Hermès Birkin bag? [Quartz] More mergers: Dixon Hughes Goodman gets Stegman & Co. Then there's this choice quote from the Midwikis & Granger PC merger with Wagner Eubank & Nichols: "Most of our folks are 50 years […]

Let’s Review: Side Gigs, Email, Lunches and Logos

Alright, it's about time we stopped being productive and wasted the rest of this work week talking about stuff we've already talked about. If there's a topic we missed that you want us to kick around, shoot us an email.

WIthum’s CEO Trying to Get Excited About the Firm’s New Logo

WithumSmith+Brown makes a video every year to celebrate….uh, their Withumness? Honestly, prior to slapping Uptown Funk behind people dancing in hats and sunglasses, the firm was best known for Tony Nitti working Simpsons references into everything from blog posts to lectures on Section 338(h)(10) elections.   But yes, these videos. The firm released another one yesterday […]

Friday Footnotes: Simple Financial Advice; Clinton’s Paid Leave Plan; Lost Accounting Jobs | 01.08.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest. Submit questions, career conundrums and Ted Cruz birth certificates in Open Items. Personal finance advice that fits on a […]

Let’s Review: Resolutions, Powerball Taxes and More

Well, that week wasn't so bad, was it? Oh, right. Sorry to those of you whose busy seasons are already starting. Leona and Greg are joining me for the review session. If we missed something from this past week, let us know in the comments or by email.

Should More Accounting Firms Use ‘Blind’ Methods to Improve Their Diversity?

I like the idea of blind recruiting that this WSJ story discusses. Not knowing a person’s name or alma mater forces “hiring managers [to] form opinions based only on that person’s work,” therefore reducing the likelihood of nepotism, favoritism, racism, basically any negative -ism you can think of. This results in, you guessed it “more […]

CGMA Twitter Account Figured ‘Accountants Want Raises’ Was Stating the Obvious

No superfluous tweets here! 25% of #finance and #accounting employees would like to be rewarded for their hard work with a promotion. pic.twitter.com/Xmn5urn4f9 — CGMA (@CGMA) January 7, 2016 Just remember, make that promotion to a position that doesn't involve managing people. That'd be great.

#BusySeason Has Arrived

It's only January 6, so it's still too early for #busyseasonproblems, but it won't be long. No, it won't be long. Personally, my main concern is that if Twitter goes to 10,000 characters, the details of #busyseasonproblems will become too much to endure and the whole thing will spiral into a loquacious kvetchfest. Basically #busyseasonproblems […]

Going Concern Editor’s Picks for 2015: Relationships at Work, Bad Auditing, Women in Accounting and More

The News Roundup is taking the day off today so that we may bring you a quick refresher of the notable stories from the past year. Since motivation is in short supply this week, you'll forgive us if your favorite story didn't make the cut. Enjoy the recap. KPMG has "the talk" with its employeesBack […]

Could Having a ‘Pro-CPA Culture’ Backfire on Accounting Firms Desperate for Talent?

Back in October, we discussed whether the CPA exam would ever become an optional within CPA firms. The reason the topic even came up was due to the fact that while the number of accounting students continues to increase, the number sitting for the CPA exam hasn't kept up, either declining in some years or staying flat.

Audit Committee Members Hard To Come By These Days

Apparently companies are having trouble finding people who want to serve on an audit committee. Candidates probably lose interest once they hear about all the boring reading that's required. [WSJ]

Don’t Worry Tax People, You Have a Lame Hashtag, Too

Last Thursday, all sorts of auditors who don't know what hashtags are bumrushed social media to tell #AuditorProud stories. I don't know whether or not #AuditorProud was ever trending on Twitter, but I do know that whatever people were tweeting, it was more worthy of your time than anything Donald Trump managed to share. Now, […]

Friday Footnotes: Another Andersen?; What Employees Want; Bald(ing) Accountants | 12.11.15

May the footnotes be with you, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest. Submit questions, career conundrums and #AuditorProud moments to Open Items. Jim Peterson's book is out and he […]

Let’s Review: Auditor Pride, Sponsorships, Getting Rid of Managers

Okay, it's time to kill the rest of this Friday by trying to remember what happened this week. We're thinking of having audience members appear as special guests in these weekly review sessions, so if you'd like to participate, get in touch. I'm joined by Greg and Leona again this week. We're gonna swap #AuditorProud […]

Mandatory Viewing and Predictions for Understanding the Accounting Profession’s Future

Last week I decided to dust of an old favorite of mine: The Singularity is Near by Ray Kurzweil (Mandatory reading for the paranoid self-proclaimed futurist). I use the term dust metaphorically, because of course I read it on my smartphone on a flight home from Melbourne. This leads me to the point — Kurzweil […]

Friday Footnotes: Guanxi; Millennials and Their Taxes; Dewey Have To? | 12.04.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, career conundrums and obscure audit partner disclosure requests to Open Items. Auditor independence and guanxi [Paul Gillis] PCAOB […]

Let’s Review: Zuckerberg’s LLC, Bad Audits, Health Initiatives and More

It's Friday which means we've lost all motivation to work but need to avoid shopping on Amazon. If we missed a story or you want us to discuss something specific, drop us a line, mention it in the comments or yell real loud. Both Greg and Leona are joining me this week, but time's a […]

Here Are Some Health Initiatives Accounting Firms Should Consider for the Upcoming Busy Season

While ya'll have been diligently protecting our capital markets, I've been binge-watching a million seasons of “The Biggest Loser” on Hulu. Why didn't anyone tell me about this show? I would have started watching it years ago! Meanwhile, I've also been scrolling through “office workers are all going to die of stress-induced heart attacks” articles. […]

Friday Footnotes: CPAs Starting Businesses; Taxing Consumption; Tips for Whistleblowers | 11.20.15

May the footnotes always be in your favor, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, career conundrums and Janice confessions to Open Items. How CPAs can start their own […]

Let’s Review: Ignoring Auditors, Women Partners, Janice in Accounting and More

Welcome to the one-week-countdown-to-Black-Friday edition of the GC gab session. Let's see if we can recall anything that happened this past week. If you think we missed anything or you want to bring something to our attention, bring it up in the comments or email us.

Here’s Another Lousy Stat on the Number of Women Partners in Accounting Firms

In case you needed another crummy datapoint to help illustrate the gender disparity at the partner level in the accounting profession, this finding from the AICPA's Women’s Initiatives Executive Committee CPA Firm Gender Survey should do the trick: Many firms have non-equity partner tracks that don’t include ownership in the practice. The WIEC survey found […]

Some Audit Committee Members Just Ignoring Auditors Now

As you've probably heard by now, the definition of materiality 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. Businesses claim that disclosure overload is making everything less informative and and some scholarship agrees. The latest in […]

Friday Footnotes: EY Loses; Acquistions; An Audit Partner Hero | 11.13.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, career conundrums and 3-page tax code drafts to Open Items. Ernst & Young Loses Trial Over Audits Linked […]

Rehashing the Week on Going Concern: Diversity, Travel, Oprah and More

Okay, it's Friday afternoon afternoon, so let's kill the rest of this day by yakking about what happened this week. If you we missed something or you want us to discuss something specific, drop us a hint in the comments or email us.   This week it's just Leona and I gabbing. Jeff's deep in […]

Accountants Earn More Than Philosophers (Barely)

Since it seems to be a popular topic today, you might be wondering if you, one of the many accountants across this great land, make more than a philosopher. And according to the Bureau of Labor Statistics, you do! But it's closer than you might like. The annual mean wage for accountants and auditors is […]

CPAs Admit That They’re Not Good Business People

Here's something interesting (hilarious, even) from the Indiana CPA Society's Center of Excellence: CPAs lack a bunch of important skills and they're completely aware of it. The Society conducted a survey of over 600 CPAs across 30 states and found that the profession that constantly goes on about being "trusted advisors" to businesses and entrepreneurs, […]

Oprah Offers Vaguely Inspiring Words to Intuit’s Devout Followers

Last week, Oprah gave the keynote address at this year’s QuickBooks Connect Conference probably because Intuit understands that people need to heal spiritually after using QuickBooks Online. Don’t get me wrong. I love Oprah. I’m a total sucker for quasi-spiritual bullshit. And apparently Intuit is, too. But Oprah speaking to a group of accounting software […]

Diversity? Ugh.

Whenever Caleb assigns me a diversity article, my first thought is always “Diversity? Ugh.” I'm not alone in this. Movie director Ava DuVernay recently said that the word diversity “feels like medicine. 'Diversity' is like, 'Ugh, I have to do diversity.' I recognize and celebrate what it is, but that word, to me, is a disconnect.' […]

Friday Footnotes: PCAOB Rebukes BDO; SEC Juking the Stats; Dropping LSD at Work | 11.06.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, elaborate spreadsheets and Marco Rubio's tax plan slams to Open Items. PCAOB Admonishes BDO USA for Quality Control […]

Welcome to Going Concern’s Weekly Gab Session

Today is the first in a new series of weekly posts that will feature your Going Concern cast kicking around stories from the past week in the accounting world. Friday afternoons are pretty slow, so we figured a little gab session would give everyone a chance to sound off on stories that we covered, missed […]

What’s the PCAOB’s Next Move on China?

Earlier this week, we learned that the PCAOB was dealt a blow last month when their negotiations with China fell through. Paul Gillis weighed in earlier today with a grim prognosis: There are no good options left for the PCAOB. Successful short seller attacks indicate that fraud and auditing failures continue to be a problem […]

More Accounting Firms Should Let Employees Build Their Own Niche Practices

In the ANR this morning I mentioned one of the accounting profession's big worries: hiring and retaining talented people. A related worry that these same accounting firms have are with succession planning; firms that can't hire and retain good people aren't going to have much a succession plan. A recent whitepaper from Crowe Horwath stated […]

Proposal Would Let Retired CPAs Take Their Three Letters Off Into the Sunset

My CPA license is inactive. Has been for years. Maybe I could use some discounted life insurance, but otherwise, I'm fine. CPAs who retire from the daily grind and don't keep up on their CPE are also inactive, however, some states (Arizona, Mississippi, Washington, among others) allow for a "CPA Retired" status with varying requirements. […]

Socially Inept Accountant Held Responsible

Here in good ol' US of A, if someone says mean things about you on the internet, you don't call a lawyer to get the offending comment taken down, you threaten them and their entire family with violence! It's the American way. Down Under, things are a bit different. An accountant in Perth sued a […]

AICPA, CIMA Want to Give the CGMA Its Own Accounting Association (UPDATE)

Update clarifies purpose of proposed association and includes letter from AICPA Chair Tim Christen to members. Here's a thing that the AICPA and CIMA are doing: The American Institute of CPAs is proposing the creation of a new accounting association in partnership with the Chartered Institute of Management Accountants. In a letter sent to institute […]