Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: Barclays Chooses KPMG to Replace PwC; More Madoff Loose Ends; Inheriting a Team | 07.06.15

Barclays Selects KPMG As Auditor, Replacing PwC [WSJ]
PwC and its predecessor firms have audited the bank since 1896. KPMG will take over in 2017.

EU accounting rules could mask onset of another financial crisis [FT]
IFRS 9, which would require banks to assess risk of loan default "over the first 12 months," is not impressing many people: "The standard is likely to produce random outcomes. Trying to guess the precise moment a loan will go bad is worse than trying to predict the result of a football match, as it is also like trying to guess the precise minutes the goals will occur."

Prosecutors say 79-year-old accounting executive earned leniency in Madoff case by cooperating [AP]
Paul Konigsberg's information helped build a case against JP Morgan which resulted in the bank paying $1.7 billion to settle criminal charges.

Pitfalls to Avoid When You Inherit a Team [HBR]
Including bitching about the quality of the team: "Getting angry or frustrated, or being condescending will only create resistance and reduce their motivation to change. And if you introduce your own hires to the team and make the mistake of favoring them while treating long-standing team members as damaged goods, that demotivation will just turn to despair."

How to Maximize Your Vacation Happiness [Science of Us/NYM]
Just a reminder to make sure you take some time off this summer: "So one way vacations continue to provide hedonic benefits even after they've long since passed is because they live on in the stories we tell."

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

cat on a desk

Friday Footnotes: RTO Isn’t Going So Great; KPMG Wins Something; What Auditors? | 5.19.23

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. ICYMI I Love Accounting. So I Had to Leave. [GC] Benjamin […]

cat with breakfast in bed

Monday Morning Accounting News Brief: Identical Twins Head to Deloitte; TWO PwC Leaks; VA Tackles 150 | 5.15.23

Good morning and happy Monday! Here’s some stuff happening. Virginia Society of CPAs is tackling the question “is 150 too many?” For nearly the past two decades, prospective CPAs in Virginia have had to undertake 150 hours of education before becoming licensed. But a declining CPA pipeline has accountants asking: Is the 150 now a […]