August 21, 2018

The Oscars Pretty Much Sum Up Everything That Happens In Public Accounting

Who is excited about the Oscars? Certainly not me, I don't watch movies. But whatever, power to the people who do.

Anyway, I came across an article discussing the possibility of Oscar ballots going electronic (you mean to tell me they haven't been up until now?) and found the description of PwC's duty of care to be frighteningly accurate.

Read the following paragraph carefully:

With online voting scheduled to begin in time for the 85th Academy Awards next year, the ceremonial ballot-mailing – in which accountants from PricewaterhouseCoopers pretend to sort trays of ballots and partners from the firm pretend to supervise the sorting, with the ballots then being loaded onto a U.S Postal Service truck – may well be replaced by something more private and not nearly as photogenic.

WHAT? You mean no interns pretending to sort trays of ballots and no partners standing there pretending to supervise?! Oh how barbaric!

My guess is that the reporter who wrote the paragraph above doesn't write about accounting very often or else he wouldn't have used a forbidden word like "pretend," which is inappropriate to use in reference to any act performed by an accounting professional. Granted, anyone who actually works in this industry knows full well that "pretend" is actually a very fitting description but that doesn't mean it's ever appropriate to say that out loud.

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In Case You Need Another Reason to Hate the French

french flag.jpgWalking around the PwC office in Midtown Manhattan, our blogospondent in the field happened across a couple of young ladies having the picture taken in front of the P Dubya sign out front, proudly posing as if it was their names on the building at 300 Madison.
Said blogospondent approached the young ladies and asked if they worked at the P Dub and they responded in heavily French accents, “yes”. As result of further prying, it was revealed that the ladies do work a lot during “busy times”, sometimes between 50 and 60 hours a week!
This compared to an American tax associate who we spoke to just a couple days before who, in the last fifteen days, had worked 185 hours.
Let’s recap: America – 185 hours in 15 days in the middle of June vs. France – 50-60 hours in one week during the “busy time”.
American vitriol towards the French may now ensue.

PwC Needs a Lesson or Two in Spin

240px-PricewaterhouseCoopers.svg.pngIn, lets talk about anything but Satyam, PwC news, the largest Big 4 firm was rated highest among professional service providers on brand recognition in the Brand Finance Top 50 ranking of Best Brands of British Origin.
“Chairman of PwC [in the UK] Ian Powell said the recognition was ‘testament to the strength and reach of our clients, the talents of our people, and the contribution that we make to the wider community.'”
We won’t take anything away from PwC but sometimes bad news is the best news for brand recognition. So this whole Satyam thing is probably not getting the credit it deserves. Come on P. Dubs! Lemons into lemonade!

PwC most recognised professional services brand
[Accountancy Age]