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September 29, 2023

Accounting News Roundup: Enough with the IFRS vs U.S. GAAP Talk; Deloitte Disneyland; How Are You Wasting Time on That Conference Call? | 03.27.15

SEC's Stein calls for ending debate over dueling accounting rules [Reuters]
Kara Stein asks that you move on from IFRS; she has: "I am not convinced of a need to abandon U.S. GAAP in favor of IFRS. To be frank, this debate between dueling standards needs to move on."

This Is the Perfect Hotel for Business Travelers, but You'll Never Stay There [Bloomberg]
Bloomberg is a little late to reporting on the quality of food at Deloitte University (which has 5 stars on Yelp): "[A] typical lunch spread includes lobster rolls, Scottish salmon, shrimp, mussels, roasted chicken, a chicken wing bar, three kinds of sandwiches, five kinds of burgers, a hummus station, and a long salad bar. Between meals, snack stations offer popcorn, jelly beans, trail mix, and ice cream bars. Spacious pantries located near guest rooms have soft drinks, yogurt, string cheese, and M&Ms. After 5:30 p.m., employees migrate toward the Barn, a hangar-sized sports pub that serves ribs, jumbo shrimp, and hickory-smoked brisket." 

Speaking of food:

1MDB: Pua reports KPMG and EY to regulating body [FMT]
From the Malaysian bureau: "Tony Pua today lodged a complaint with the Malaysian Institute of Accountants (MIA) alleging that auditing firms KPMG and Ernst & Young (EY), both failed to report “highly dubious and fraudulent” transactions regarding 1MDB in regard to its PetroSaudi International deal."

In Silicon Valley, Auto Racing Becomes a Favorite Hobby for Tech Elites [DealBook]
You'll be floored to learn that men who have money to burn like to drive fast.


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