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December 3, 2022

Accounting News Roundup: KPMG’s Revenues; Gilmore Girls Guy Sues CohnReznick; What If You’re Smarter Than Your Boss? | 12.12.14

KPMG International Achieves Record Revenues [AT]
Seems respectable: "KPMG International said it realized record revenues globally of US$24.82 billion for the fiscal year ending Sept. 30, 2014, a 6.3 percent increase over the previous year in terms of local currency. The Americas delivered strong growth over the prior year, with revenues rising by 10.1 percent, driven by 15.1 percent growth in revenues from advisory services, an 8 percent increase in tax services revenue and an 8.7 percent increase in audit service revenues."

The dozy watchdogs [The Economist]
Auditors get their latest beat down from the Economist: "[S]uch frequent scandals call into question whether this is the best the Big Four can do—and if so, whether their efforts are worth the $50 billion a year they collect in audit fees. In popular imagination, auditors are there to sniff out fraud. But because the profession was historically allowed to self-regulate despite enjoying a government-guaranteed franchise, it has set the bar so low—formally, auditors merely opine on whether financial statements meet accounting standards—that it is all but impossible for them to fail at their jobs, as they define them."

Actor Edward Herrmann says accounting firm owes him $14.5 million after they mismanaged his money: suit [NYDN]
CohnReznick screwed the guy who played Richard Gilmore, says guy who played Richard Gilmore. 

What to Do If You’re Smarter than Your Boss [HBR]
I'm sure there are a few of you out there who think they're in this situation. "[I]t’s not unusual to feel smarter or more qualified than your boss. Still, being in good company doesn’t make the situation any more tenable. Toiling under someone who you feel is incompetent can be demoralizing. But not all hope is lost. Even less-than-great bosses have something to teach, says Linda Hill, the Wallace Brett Donham Professor of Business Administration at Harvard Business School and coauthor of Collective Genius and Being the Boss: 'There are very few people in this world that I don’t think I can learn from.' So try not to discount your boss completely."

Steve Chase named KPMG's U.S. management consulting leader [DBJ]
Succeeding Stephen Lis.

The answer to where is Ralphie now is: "Editing an accounting website."

Tax chairman introduces reform bill [The Hill]

Meet The Man Who Has 203 'Simpsons' Characters Tattooed On His Back [HP]
A 52-year-old grandfather, no less.

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