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Accounting News Roundup: Auditing, Consulting and Credibility; IASB Coming to Connecticut?; Bad Boss Clues | 02.15.11

Bernanke Would Defend Lehman Actions to His `Deathbed’ [Bloomberg]
Federal Reserve Chairman Ben S. Bernanke, in a confidential talk with the commission probing the causes of the financial crisis, said he would defend to his “deathbed” his actions prior to the bankruptcy of Lehman Brothers Holdings Inc. “I will maintain to my deathbed, that we made every effort to save Lehman, but we were just unable to do so because of a lack of legal authority,” Bernanke said, referring to the 2008 failure that intensified a crisis that Bernanke said was the worst in history, according to an 89-page transcript of the interview by the Financial Crisis Inquiry Commission.

5,100 More IRS Agents [WSJ]
As predicted, from the WSJ Op-Ed page, “We doubt this is the kind of fiscal discipline that voters had in mind in November, but it does reflect the mentality of an Administration that assumes it could go a long way to balancing the budget if only fewer Americans shirked their tax bills. The 5,100 extra IRS gumshoes are supposed to chase the $300 billion “tax gap,” the Beltway’s version of the Loch Ness monster that is the difference between what the IRS collects and what Congress thinks Americans owe. It’s about as real as Nessie, though at least with the monster some Scots claim photographic evidence.”

Auditors and Consulting: Claims Of No Conflict Strain Credibility [Re:The Auditors]
Francine McKenna reports that the rebuilding of the Big 4 consulting practices (i.e. Advisory) makes for a slippery slope.

IASB Parent Org. Opens Regional Office In Tokyo; Could Norwalk Be Next? [FEI Blog]
There goes the neighborhood.

Deloitte: Text Messaging Still Far More Popular Than Mobile Twitter, Other Social Networks [MobileCrunch]
“[R]eports of the text message’s demise have been grossly exaggerated.”

How to Quit Your Job [HBR]
First, you march in so-and-so’s office but then what?

Five Signs You’re a Bad Boss [WSJ]
Do you send lots of one-word emails? That would be strike one.

Nasdaq CFO leaves for buyout firm Carlyle [Reuters]
Transatlantic exchange operator Nasdaq OMX Group Inc has lost its chief financial officer Adena Friedman, who is quitting to take the same position at Washington, D.C.-based private equity firm Carlyle Group.

New tax blues for ‘American Idol’ winner Ruben Studdard [Tax Watchdog]
The man needs a good career to fall back on…like some people.

Posted in ANR