Finally we’ve got Lehman Brothers’s auditor vs. BKD.
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- Going Concern News Desk
- May 1, 2020
What Should Your CPA (Really) Know About Blockchain? [Forbes] Taxation, financial reporting and disclosure, and […]
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More Merger Mania: WeiserMazars, Marks Paneth & Shron Walk Away After ‘Serious’ Talks
- Caleb Newquist
- October 6, 2010
Last Friday we learned that Marcum and Stonefield Josephson were now super-accounting friends. The MarcumStonefield deal was just the latest combinatio in what has been a busy year for consolidation by CPA firms.
Eisner and Amper joined forces, as did Weiser and Mazars while RubinBrown and Wipfli among others have also been active.
With our interest piqued, we did some digging and discovered a rumor of another merger, this time between WeiserMazars and New York-based Marks Paneth & Shron.
A source with knowledge of the discussions told GC that MP&S has been looking for various buyout options, including discussing a possible merger with Eisner earlier this year. When it was clear that the EisnerAmper deal was happening MP&S started looking for other options, which included WeiserMazars.
Our source indicated that the deal was very close to being finalized saying that it “sounded like” MP&S’s management committee had approved the deal.
We checked in with both firms to find out the latest on the situation and discovered from an MP&S spokesperson that the deal wasn’t happening. Officially, this is what the firm had to say:
It’s our policy not to comment on specific discussions. In general, we can say that we are always looking for approaches that will enable us to anticipate and serve the evolving needs of our highly valued and sophisticated client base — and also allow us to provide new opportunities and challenges to our people. Occasionally that means exploring partnerships, collaboration and even mergers with other best-of-breed organizations with complementary capabilities, expertise and values. However, no such discussions are currently in progress.
A short time we heard back from Doug Phillips, the Managing Partner at WeiserMazars who provided us with this statement through a spokesperson:
After much serious and detailed discussion, the managements of WeiserMazars LLP and Marks Paneth & Shron LLP have concluded that we cannot agree on a set of merger terms that we are prepared to submit to the partners of each firm to vote on. We have therefore concluded our discussions for the time being.
We continue to have the greatest respect for Marks Paneth & Shron and its partners. A combination is just not the right move for both firms at this time.
So there you have it. There was little wining and dining but ultimately it wasn’t love. That being said, it sounds like both firms are on the hunt, so we’ll keep our ears open. If you have information or hear rumors of any potential merger, email us at tips@goingconcern.com with the scoop.
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Woman Realizes Her Dream of an Accounting Degree After 19 Years
- Adrienne Gonzalez
- April 27, 2011
Whenever you feel unmotivated to get your accounting degree or are concerned you’ve made an awful career decision, just think about this Iowa woman who worked 19 long, tedious-ass years to get her bachelor’s in accounting.
We’re totally OK with this woman being too busy to take the CPA exam, this is the ultimate excuse to be unable to get through the exam in 18 months. Bow to her greatness and insantly feel guilty for being greedy when it comes to compensation and slacking so hard on the job.
In 1992, a gallon of gas cost $1.13, Bill Clinton won the presidential election and Kathy Vitzthum took her first class at Iowa State University.
Vitzthum has taken about one class each and every semester since. For 40 semesters. Since Miley Cyrus was born. Since Charles and Diana split up. Since Ross Perot pulled out his charts and pointer on TV. Since the World Wide Web was in its infancy (and text only).
On May 7, the 48-year-old Vitzthum, who lives in Slater, graduates summa cum laude from Iowa State. She has achieved her goal — a bachelor’s degree in accounting — after juggling family and career with finals and papers for 19 years.
Now, we don’t judge as we all have our different career paths but while congratulating this woman for her epic accomplishment, it’s wise to point out that we don’t necessarily recommend this bundle of choices for just anyone. It’s easiest to go college, then pass the CPA exam or start work (it’s usually easiest to do the exam in-between school and starting work), then get married and/or have kids. You are welcome to do these in any order you like, we just wouldn’t feel right if we didn’t point this out.
I’m not sure what you all were doing in 1992 but I was in 6th grade. Think about that for a minute next time you hate your life and/or career decisions.