October 6, 2022

Accounting News Roundup: Grant Thornton’s Bad Penny; CFO Scapegoats; Stopping the Office Oversharer | 06.26.14

After a decade, Parmalat lawsuit vs Grant Thornton in U.S. is back [Reuters]
The 7th Circuit keeps it alive. 

Johnnie M. Walters, Ex-I.R.S. Chief, Dies at 94 [NYT]
Walters left office after refusing to go after people on Richard Nixon's "enemies list." 

They grow up so fast!

‘Powerful’ CEOs and Their CFO Scapegoats [FEI]
A new study from Henry Friedman at UCLA explains that when there's accounting manipulation, CEOs can get shifty: "According to Friedman’s thesis, CEOs with significant 'power' — including those with significant influence over the board, excess compensation tied to earnings and direct responsibility for financial reporting — often 'compromise the independence of a CFO who is responsible for reports upon which performance is assessed.' Financial executives end up being pressured to manipulate accounting as a result of the pressure from CEOs, even though they often have little to gain from the scheme."

How to Curb Office Oversharing [WSJ]
Oh, you'd like telling stories of your child's most recent poop explosion? Get a best friend outside the office: "More than 3 in 5 workers say they have at least one co-worker who overshares once a week or more, according to a survey of 514 professional and corporate workers by SurveyMonkey Audience. Oversharers often disrupt colleagues' work and risk damaging not only their own careers, but those of others. Intervening takes finesse, however, because oversharers are sometimes fragile and heedless of social cues. Many need direct, explicit feedback to break through the emotional needs or desires that keep them talking."

Uruguayan FA defends Luis Suárez, claiming bite marks are Photoshopped [Guardian]
They had to come up with something. This is that something.

Soccer Break: Why It Pays to Watch the World Cup at Work [CNBC]
Go USA.

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