Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: PwC Gives Thumbs-Up to Noble’s Accounting | 08.10.15

PwC says Noble Group's accounting practices comply with rules [Reuters]
Incredible! An "indepedent" review of a company's accounting policies found nothing wrong.

"I am delighted that we have received a strong validation of our processes and controls and shareholders can now be assured, as we have always known, that our balance sheet fairly reflects the value of our long term contracts," said Richard Elman, Noble's founder, chairman and biggest shareholder.

But not everyone believes we've heard the last of it:

"There may be some way to go," said Roger Tan, chief executive of Voyage Research.

"In the first place, in the accounting policies, there is enough flexibility to manoeuvre. So it's a question of which side of the coin you are arguing on," he said.

Finance Chiefs Getting Shot at CEO Role [CFOJ]
Korn/Ferry says a "right-brain leadership gap," prevents most CFOs from ascending to the CEO role. Recently, however, companies like Church & Dwight, Sprouts Farmers Market, Inc. and MoneyGram have announced that their CFO would become the new CEO.

Jury duty during the week of my CPA exam [r/accounting]
Civic duty over professional assessment.

If You Work Hard, You’re More Likely to Drink Hard [Slate]
"[T]he British Medical Journal found that working more than 48 hours a week was associated with a slightly higher probability of "risky" alcohol consumption."

At least someone's cheery this morning.