press releases

The SEC Put Out Its 2015 Highlight Reel

The SEC's fiscal year wrapped on September 30, so naturally, they wanted to take a victory lap with their enforcements results. Among the accounting and auditing highlights brought up are: Computer Science Corporation's manipulation of "accounting models that artificially increased its profits but had no basis in reality." Deutsche Bank's overvalued derivatives that exposed them […]

Deloitte Employees Have an Excused Absence

Today, Deloitte extends its tradition of issuing a press release stating that their employees are volunteering without having to make up a story to get out of work. Your indulgence is appreciated. [Deloitte]

FAF Throws Aside Accounting Standards to Announce ‘The Best Press Release Ever’

Looks like happy hour started a little early in Norwalk today, as what was supposed to be a test email went out to subscribers of FAF’s Action Alert as if it was a real press release: Kip later issued an apology. We Betz he did, har har.  

PwC Ups Its Disruption; Gets on Gmail

Rejoice, PwCers, you all are joining the late 20th century!

Why Do Accounting Firms Feel the Need to Vigorously Defend Themselves?

The other day, news came out that a class action suit had been filed against KPMG. I know, I know, it's like every other week some accounting firm is getting sued for something. Of course, KPMG wanted to make it clear that they would "vigorously defend" themselves in court: Siskinds LLP, Siskinds Desmeules and JSS […]

The PCAOB Is Looking For a Few Good SAGs

Full press release is below as we don't care enough about this to spend an hour rewriting it: Washington, DC, May 1, 2014 — The Public Company Accounting Oversight Board is soliciting nominations for its Standing Advisory Group (SAG) for the 2015-2017 three-year term. The deadline for submissions is June 30, 2014. The Board is […]

Herbalife Making Moves to Become Honey Badger of Investigations

Herbalife isn't having a great time but it's fine. No really, it's fine. First, they had to squash some rumors a few days ago with this press release: We have no knowledge of any ongoing investigation by the DOJ or the FBI, and we have not received any formal nor informal request for information from […]

If China Won’t Play, the PCAOB Will Find Someone Else to Play With

Keep holding out, China, the PCAOB don't need to check your stinkin' work anyway: Washington, DC, March 31, 2014 — The Public Company Accounting Oversight Board today announced that it has entered into a cooperative agreement with the Supervisory Board of Public Accountants (RN) of Sweden relating to the oversight of audit firms subject to […]

The Award For Most Unnecessary Press Release Goes To…

These guys for letting us know two "accountants" came by the office to check things out: Industrial Nanotech, Inc. (OTC-PINK: INTK), an emerging global leader in nanotechnology based energy saving solutions, today announced that it has completed the onsite visit portion of the audit by the accounting firm of Hartley Moore Accountancy Corporation, a PCAOB […]

The AICPA Is Teasing Us With This Press Release About a Press Release

GUYS, we get it, it's the Monday after a holiday and no one wants to work that hard. But really with this? The American Institute of CPAs will announce the results of its CPA Outlook Index (CPAOI), an indicator of how chief financial officers, controllers and other senior CPA business leaders view the U.S. economy, at […]

Are Booz Consultants Hoping to Get Poached Ahead of the PwC Deal?

Apparently, some folks at Booz are busy little bees on LinkedIn: Booz & Company management consultants have rushed to update their resumes and LinkedIn profiles after a proposed takeover by big four accounting firm PwC was announced last Thursday. It has raised concerns about how much talent and inherent value will evacuate the $80 million domestic […]

PwC Not Sticking Around to See If Stein Mart Can Fix the Rest of Its Lousy Internal Controls

Here's the opening paragraph from a press release released by Stein Mart today: Stein Mart, Inc. (Nasdaq:SMRT) today announced that in connection with a review of the Company's auditor relationship, on June 6, 2013, a request for proposal was sent to several national accounting firms, including PricewaterhouseCoopers LLP (PwC). On June 11, 2013, PwC informed […]

ICYMI: Here’s the Yearly Press Release From Becker Reminding Us They Rule

It happens every year like clockwork (well, not entirely, some years the Becker PR folks are a little too tied up to get the press release out promptly), the Elijah Watt Sells winners are released and then comes the inevitable patting-themselves-on-the-back from our friends at Becker:

Is the PwC Oscar® Team Really Incorruptible?

PwC issued a press release today announcing their nearly eight-decade run tabulating the ballots for the Academy Awards. From now until the broadcast, we’ll be treated with more PwC mentions on Entertainment Tonight than anyone should bear. Personally, I’m of the opinion that the Golden Globes is a better gig due to all the drunken shenanigans, […]

The AICPA’s CGMA Designation Is the Most Popular Management Accounting Designation in the U.S., Says AICPA

Oh look, the AICPA put out a press release that says the Chartered Global Management Accountant designation is the "most prominent management accounting credential in the U.S. with 37,864 CFOs, controllers and other finance professionals holding the designation."  Plus, it's managed to its way into some of the most prestigious companies in America! U.S. CGMA […]

Promotion Watch ’12: Crowe Horwath

Nine new partners and seven new directors have seats at the adult able, according to a firm press release. Here's your new partner class: Stephen Bedell, Tax (Columbus, Ohio) Rebecca Hurt, Tax (Knoxville, Tenn.) John Kelleher, Tax (Oak Brook, Ill.) Bart Kimmel, Risk Consulting (Los Angeles, Calif.) Troy La Huis, Risk Consulting (Grand Rapids, Mich.) […]

British Stationery Company Theorizes That Some Businesses Prefer Keeping Books on Paper Because They Are “Unaware” of Accounting Software, Other Bullshit Reasons

We all know someone who's a little too resistant to technological advances in accounting and the accounting business. The partner who never uses email. The office manager who insists on going to the post office rather than printing postage off the web. KPMG.   But even the fussiest Luddites have adapted to the various improvements […]