Ambitious goals

EY Thinks It Will Hire Enough People in 2019 to Fill a Small College Football Stadium

Accounting Today posted an article yesterday on EY’s “ambitious” recruiting goal of 15,000 new hires in the U.S. in fiscal year 2019. Given that EY only increased its headcount worldwide by 14,000 people in FY 2018 makes me think this has as much chance of happening as Adrienne Caleb coming back to GC. According to […]

This Guy Who Emerged From a Coma to Pass the CPA Exam AND Run a Half-Marathon Is Making Everyone Else Look Lazy

You may have never heard of Bryan Steinhauer but this 26-year-old's story is about to make you feel guilty for every single stupid excuse you ever gave for not being able to pass the CPA exam. You see, Bryan was beaten into a coma back in 2008 when he got into a barroom brawl with […]

PwC Would Appreciate It if the FASB, IASB Would Cool Their Jets on the Accounting Standards

Christ, guys! PricewaterhouseCoopers thinks it’s nice that you’re trying to turn the entire accounting world upside down since you decided the BSDs at the G-20 were serious about this June 2011 deadline.

But then you admitted that it can’t be done and it turns out they (or the SEC) don’t give a rat’s ass. For some reason, you’re still committed to getting the job done by the end of 2011 and PwC would like you take it easy.


For starters, everyone knows that the world is ending in 2012, so this is really a futile exercise. Secondly, you’re really not being rational about the whole thing. Your gusto is admirable but you’re looking like the kid that reminds the teacher to assign homework. KNOCK IT OFF:

PricewaterhouseCoopers Calls for Slowing Down Pace of Accounting Standard Setting

NEW YORK, July 8 /PRNewswire/ — PricewaterhouseCoopers, responding to the Financial Accounting Standards Board’s (FASB) and the International Accounting Standards Board’s (IASB) ambitious agenda to complete about a dozen new accounting standards (about half of which are major projects) by the end of 2011, said the current timeline is not sufficient to produce standards that meet the boards’ high thresholds for quality.

Mike Gallagher, PwC’s U.S. National Office Leader, said, “it is of utmost importance that adequate time be given to complete an effective, thorough analysis of the accounting, business and operational impacts of the proposals.” Gallagher added, “given the boards’ missions of issuing high quality standards, we believe the proposed timeline will need to be further extended to allow for appropriate due process.”

In a Point of View article released today, PwC said it fully supports an aggressive timeline and the goal of attaining a single set of high quality global standards. Yet, the firm also expressed significant concern that the current pace of standard setting does not provide enough time for companies to fully analyze the proposals and respond comprehensively. In the article, the firm’s leadership called upon standard setters to “reevaluate the current timeline and set more reasonable expectations.”

Explaining the firm’s concern about the ambitious timelines, Gallagher pointed out that “even the largest of companies won’t have the resource bandwidth to properly evaluate and respond to so many complex standards in such a limited period of time.”

The projects underway by the FASB and IASB to improve both U.S. generally accepted accounting principles and international financial reporting standards are part of a wider goal to converge U.S. and international standards in key areas.