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December 6, 2022

Accounting News Roundup: Auditors’ Use of Specialists; More Women Making Partner at Deloitte UK; Leveraging Laziness | 06.01.15

PCAOB Scrutinizes Audit Firms' Use of Specialists [AT]
The gears are turning: "The PCAOB staff consultation paper focuses on the objectivity and oversight of specialists and the use of their work in audits. The paper raises questions about whether PCAOB standards adequately address the auditor's use of the work of specialists, and whether more rigorous standards and specific procedures are needed in this regard to help the auditor respond to the risks of material misstatement in financial statements. The staff is seeking input on possible alternatives to address the issues discussed in the paper."

Record numbers of women climb to partner at Deloitte [Telegraph]
Deloitte's UK firm admitted 75 to partner, 22 of them women. While the article says that nearly half of the new partners, 35, will be equity partners, the number of female equity partners is not stated.

FRC criticises PwC over missing UK audit disclosure [Accountancy Age]
Oops: "The accounting and audit watchdog found that the group engagement partner consulted centrally on whether the audit should be conducted in accordance with UK standards, but was misadvised. As a result, the extended form of audit report required by UK Auditing Standards was not issued, and certain information to be included in the annual report was not received and reviewed before the audit report was signed, as required."

Influence People by Leveraging the Brain’s Laziness [HBR]
Excellent trick: "[I}f your aim is to get people to schedule shorter meetings, organize the office calendar program in which the default meeting length is 15 or 30 minutes rather than an hour and needs to be adjusted to be longer if necessary."

Lawyer Sues Skadden for Overtime [WSJ]
Sounds familiar: "Under federal labor laws, licensed lawyers can’t earn overtime pay for work in excess of 40 hours a week if what they are doing is considered legal work. But the plaintiff, David Lola, says he deserves overtime pay because the tasks he did were so basic they shouldn’t qualify as practicing law."

Arrested Ex-FIFA VP Cites The Onion In Strange Self-Defense Video [Screamer.Deadspin]
Well, it is the world's finest news source.

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