If you assumed that comments submitted for accounting, auditing or tax proposed regulations were too boring to read, man, you are missing out.
I dug through more than a dozen comments on the PCAOB's proposal to disclose audit partner names and, for the most part, the comments were harmless and relatively interesting. However, I find that when I undertake one of these little excursions there's always a hidden treasure; this time, the Institute of Management Accountants' comment letter was the gem I wanted. It ended like so:
Now, I've only been in and around accounting for 12-ish years, but am I strange to think that this proposal isn't an insult to the profession? I think I could make a pretty reasonable case that auditor independence is a bigger insult to the accounting profession than partner disclosure.
But also, does the IMA really have a dog in this fight? We're talking about auditors, after all. Plus, the "cannot fathom" seems plenty strong on its face along with "professional insult." I mean, what is a professional insult? I just thought it was a thing comedians did when discussing each other's moms.
But don't take my word for it. Go read it alongside the rest of the comments I picked out (including one from John Roberts!) and have a great short week.
