November 13, 2018

Awkward

This Embarrassing Deloitte Mockumentary is Surprisingly Accurate

How is it possible this video from Deloitte Belgium has been out in the wild for nearly 3 years and we are only just now seeing it? This thing has "needs to be made fun of by Going Concern" written all over it. Let's venture into the corporate jungle and meet Homo Deloittus. No really, […]

This PwC Job Listing Gives Just a Little Too Much Information

So you're a skilled international tax person looking for a new gig. You come across this job posting on LinkedIn and find it interesting: Are you interested in the opportunity to work for an industry-leading firm that services clients that include the Fortune 500, and will give you the experience and exposure you need to […]

Guy Leaves KPMG, Can’t Resist the Urge to Write a Sappy Farewell Email

There are basically three types of farewell emails: rambing, angry, expletive-littered rants (also called the Bridge Burner — a GC favorite) clever bro fist goodbyes that read like press releases dry, try too hard missives written like whatever you wrote in your best friend's yearbook the year you both graduated and went off to college […]

As CGAs, CAs and CMAs in Canada Join Together Under the CPA, an Awkward Video to Celebrate

If you aren't aware, they're doing a little remixing of credentials up there in Canada, so naturally they did an actual remix to hammer the point home before everything becomes official across the country. Note the Canadian CPA — or Chartered Professional Accountant — is not to be confused with the American CPA. Hopefully it […]

Protip: Double-Check What You Wrote Before You Confirm Your Interview By Text

Anyone who has taken Roger for CPA review knows his tired old joke in partnerships about the partner he went home with — he is still telling that joke, isn't he? — but this is not that. Awkward. via Pinterest

Grover Norquist May Have Had the Most Awkward Thanksgiving Ever

Some things should not be discussed at the Thanksgiving table. But I guess if you're related to Grover Norquist, what are you going to talk about? Thanksgiving dinner: Nana, mom, aunts telling chldbirth stories. 5 yr old says "so when the baby comes out Mommy's mouth…" Topic changed — Grover Norquist (@GroverNorquist) December 3, 2013

Minnesota Accountant Has Three Years to Think About Life Choices After His Embezzlement Put Father-in-Law Out of a Job

Ronald Schaeffer of Fairbault, Minnesota was the one-man accounting department of Environmental Tillage Systems Inc. He was, in the words of Kevin Born, the company's CEO, the “most trusted employee” at ETS. Disciples of COSO would tell you that this is far from an ideal situation. You know, no segregation of duties and whatnot. This precarious set-up at […]

Green Mountain Coffee Roasters Must Not Mind That Their Audit Firm Is Also a Strategic Partner for a Presentation That Includes a Blogger That Doesn’t Say Particularly Nice Things About Their Financial Reporting

As most of you know, convicted-fraudster-turned-accounting-sleuth and all-around ham Sam Antar now spends his days blogging, exposing companies whose financial reporting and disclosures strikes him as a little too familiar to some of the tricks he pulled in his Crazy Eddie days.  Sam also spends a fair amount of time educating the less criminally-inclined on […]

Is This the Most Embarrassing Thing To Ever Happen to an Accountant at Work?

Many of you have suffered social indignity at one time or another while at work. Spilling food on yourself. Wardrobe malfunctions. Moments of clutzitude. The blood rushes to your face and stays there for undetermined amount of time, your co-workers snicker, and talk behind your back for a while, but eventually you get over it. […]

It Sounds Like the Olympus Shareholder Meeting Went As Well As You Might Expect

If you've been following the Olympus scandal, it's made for a pretty entertaining affair. It involves $1 billion+ in accounting shenanigans, two feeble Big 4 firms, selective communication with investors, a small shifty auditor, OH! and a former CEO of the company blew the whistle on the whole thing. So of course you'd expect shareholders meeting follow suit. […]

Someone in the Frazer Frost Marketing Department Didn’t Get the Memo RE: No Mas Frazer Frost

Last month we told you about the break up of Frazer Frost, a firm that was born out of the combination of Moore Stephens Wurth Frazer Torbet, LLP and Frost, PLLC. Turns out, the announcement made in November 2009 left out the part that it was just a ‘trial merger’ and after a year, they scrapped it for various reasons that included a) a ‘culture clash’ b) ‘issues in the Chinese reverse mortgage practice’ and c) well, those first two are pretty bad.

While it’s unfortunate when these things don’t work out, it would be assumed that everyone working at the firm would be acutely aware of the situation. A merger doesn’t exactly qualify as a “minor administrative issue” that gets overlooked. Nevertheless, a tipster sent us the following picture that appeared on page 48 of the December issue of Celebrate Arkansas.


Judging by this ad, you might get the impression that Frazer Frost was in fact still a firm and if one visits www.frazerfrost.com that’s when it gets hella-confusing:

Moore Stephens Wurth Frazer Torbet, LLP and Frost, PLLC are moving to resume operations as separate entities, as existed prior to their combination in January 2010. The combined firm, Frazer Frost, LLP, will continue to exist as a legal entity until the separation has been completed. It continues to be the policy of both firms not to comment publicly on client, personnel, or other internal matters.

Maybe we’re a little slow but if the two firms are “moving to resume operations as separate entities” but “The combined firm, Frazer Frost, LLP, will continue to exist as a legal entity until the separation has been completed,” we interpret that as “Frazer Frost is still technically a firm but in reality, it’s only a matter of time until we’re not.” It’s seems like a bad breakup where two people continue living together in a tense, awkward environment where way uglier shit gets said than during the actual break-up but they’re both stuck in this god-awful situation until somebody finds a new apartment.

Regardless, placing an ad in a periodical could be construed as misleading but that’s just us. If someone at the firm can explain it to us, we’ll be here. While we wait, if you’ve got thoughts on whether this ad is perfectly hunky dory or a little dubious, share below.

Someone in IRS Des Moines Office Didn’t Get the “File the Form 990” Memo

Our contributor Joe Kristan has spent most of July on vacation in an undisclosed location but he returned this week and didn’t waste any time pointing out some irony courtesy of the IRS.


What you see above is a clip from the list of tax-exempt entities in Iowa who have not filed their Form 990 and need to take action by the new drop dead date of October 15th.

Welcome back, Joe.