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September 29, 2023

ANR: Expect Heated Words Over PCAOB Proposal; MIT vs. CPA; An Accounting Christmas Carol | 12.03.13

PCAOB proposal to name engagement partner may generate debate [JofA]
The JofA trolled us with the "may" in that headline. Here's the lead sentence: "A vigorous debate is expected as the PCAOB prepares to repropose a rule that would require engagement partners’ names to be disclosed in public company auditor’s reports."  

Grant Thornton debuts in FTSE 100 auditor rankings table [Accountancy Age]
So! I guess this means the competition problem is solved?

Cross it off your wishlist.

Companies Unfazed as XBRL Liability Protection Fades [CW]
This paragraph tells you everything you need to know: "The SEC has pointed out persistent routine errors in XBRL filings and called on companies to correct them, although the SEC also has been criticized for doing too little to clean up XBRL filings. A study last year concluded investors and other users of financial statements are not using data produced by XBRL because they don't trust it. Congress has called on the SEC to answer questions about why it's not taking more proactive measures to make XBRL more useful for everyone."

Pocket protectors or not, MIT > CPA.

Expert in Koss Case Blames Michael Koss and Management for Fraud [Fraud Files]
This is a fun trip down memory lane.

An Accounting Song for Christmas [The Summa/David Albrecht]
An accounting version of the 12 Days with a lyric of "Two many expenses"? Yes, please. It's nearly as good as GC's 12 days of Christmas.  

Ala. woman charged with killing fellow 'Bama fan after Iron Bowl loss [CL]
Yep: "Hoover police Capt. Jim Coker said both Birmingham women were Alabama fans and at the same party for the annual game between interstate rivals. With no time left on the clock, Auburn returned a missed Crimson Tide field goal more than 100 yards for a 34-28 victory, dashing any hopes of Alabama playing for a third straight national championship. The victim's sister, Nekesa Shepherd, said she witnessed the killing and had no doubt it was about football, even though it was unclear to investigators whether the violence was motivated by the game. 'That's one of the things we are investigating,' Coker said Monday."



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