July 19, 2018

We’re One Meltdown Away From a Bunch of Crusty Old CPAs Saying ‘I Told Ya So’ About the Cloud

If you don’t spend a lot of time thinking about what a severe outage of Internet-based services might be like, this CFO article cites a report that tried to ballpark it:

A cyber incident that takes a top-three cloud-services vendor offline for three to six days would spawn customer financial losses of about $7 billion to $15 billion, according to a report, “Cloud Down,” by Lloyd’s of London and catastrophic risk modeler AIR Worldwide.

Yes, if something were to knock out, say, Amazon Web Services for a few days or weeks or smote the whole operation, things would be bad. Very bad. Catastrophically bad. Horrific. Terrifying. Like, The Walking Dead bad. But I swear to you, regardless of the chaos that would emerge as a result of a significant portion of the cloud going down would pale in comparison to the schadenfreude that male CPAs of a certain age would be swimming in.

First, they’d laugh and point, but then it would turn ugly. They’d don their khaki trousers and blue blazers and hit the streets, promising to be “The Trusted Advisor” you need in this time of darkness. They’d start tent revivals, preaching “Reject the cloud,” telling followers that only true salvation can be found within…your own IT infrastructure. They’d demand that all accountants prepare tax returns by hand and schlep physical ledgers home every night to be placed under lock and key just to be on the safe side. They’d re-introduce BUSINESS FORMAL. Basically, it’d reinvigorate the CPA equivalent of flat-Earthers.

So, I guess what I’m saying is: Lock your shit up, AWS. Nobody needs this.

[CFO]

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KPMG Arrives at the Paperless Audit Party

office-space-402a-061907.jpgWe’ve received several reports about Klynveldians attending “eAudit” training this summer which marks the firm’s attempt to get break into the “paperless” audit world. Reports have been mixed with some saying that it’s best technology KPMG has invested in but others claiming that it will only run on Vista which may be problematic when Windows 7 rolls out.
Forgetting the technology mumbo-jumbo, it’s been long rumored that KPMG was the last major firm to make the move to a paperless audit. This could have been due to a number of things:
More, after the jump


• Partners that have been around since WWII that can’t even use email put the kibosh on the whole idea
• M-O-N-E-Y
• Accountants, in general, resist the idea of trying a new restaurant so don’t even think about messing with their audit methods
What’s more surprising is that some Radio Station clients have said that they prefer the old school audit. Not exactly sure what is so appealing about young auditors schleping around boxes of binders that weigh a few metric asstons but whatevs.
Our point, dude, is that KPMG has finally caved on this whole “paperless” idea. Since audits aren’t truly paperless we’re not sure what all the fuss is about but KPMGers got an extra week in Florida in the dead of summer out of it. Discuss the firm breaking into the new century in the comments or let us know how terrible your lives will be because of it.

Firms Sponsoring Golfers – An Analysis

Accounting firms don’t do much advertising. It’s got something to do with ethics and since the CPA exam is ancient history for some we can’t talk specifics.
Firms do like to sponsor stuff related to golf. Tournaments, players, etc. One recipient of accounting firm cash has been widely followed here but now we recently discovered another firm sponsoree that, we feel, may rouse as loyal of a following as Phil.
natalie.jpgThis is Natalie Gulbis who is sponsored by RSM McGladrey.
Natalie works with RSM in partnering with the Special Olympics Golf Program and will be a contributor to RSM’s new golf blog.
We’re not really into golf so we can’t really debate who has a better game or who garners better exposure for their sponsor so, after the jump, we’ve presented a more superficial analysis:


phil-mickelson.jpgnatatlie 2.jpg
We admit that we know nothing about promotion or advertising but if you’ve got opinions on which firm seems to have found the better golfer to sponsor, discuss in the comments.