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December 6, 2022

Accounting News Roundup: Alibaba’s IPO Filing; KPMG’s Latest Acquisition; Teaching Entrepreneurship | 05.07.14

Investors Say Alibaba IPO Filing Leaves Many Questions Unanswered [WSJ, F-1]
Including accounting and auditing: "Though skepticism has abated since last year, many U.S.-listed Chinese companies still face investor worries about transparency. The U.S. Securities and Exchange Commission has raised questions about the accounting of more than 130 such companies in recent years. The Chinese affiliates of the Big Four accounting firms are appealing a U.S. court ruling that suspended them from auditing U.S.-traded clients for six months. The ruling was part of a broader dispute between Washington and Beijing about U.S. regulators' access to documents related to Chinese audit clients."

Federal employee reps warn about flagging [The Hill]
Low morale isn't just for public accountants! "Colleen M. Kelley, president of the National Treasury Employees Union, which represents about 150,000 federal workers, emphasized the greater stress on employees due to cuts in staff. The IRS, she said, has 10,000 fewer employees than four years ago, but the amount of work to be done has increased, causing a decline in service and unhappiness within the ranks."

KPMG buys Southfield-based turnaround consultancy BBK [DFP]
BBK fixes cars, so to speak: "Founded in Southfield, BBK was known for its work with industrial clients, particularly the auto industry, and its consultants were a familiar sight on the shop floors and in the executives suites of distressed Chrysler and General Motors suppliers."

Teaching Entrepreneurship Gets an Incomplete [WSJ]
It sounds like people are trying too hard: "Thousands of institutions—universities, community colleges, even high schools—offer courses that purport to prepare students for careers as entrepreneurs. Yet there is no employer demand for people trained in the "art" of entrepreneurship, nor does the training offer any recognized value in other jobs. Indeed, one can receive a Ph.D. in entrepreneurship even though there is no academic consensus on what works for starting a new business. Not surprisingly, as the number of entrepreneurship teachers grows, the number of new businesses continues to decline."

How to Tackle Four Common Ways You Let Your Focus Slip [FC]
You need a plan, Stan.

A List Of Alternate Suggestions For The Title Of Star Wars: Episode VII [io9]
If The Ancient Fear doesn't satisfy you.

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