Per Web CPA, the Center of Audit Quality has re-elected the four members of its governing board:
Ernst & Young chairman and CEO James Turley has been unanimously re-elected to serve a second term as chair of the governing board. Michele Hooper, co-founder of The Directors’ Council, and AICPA president and CEO Barry Melancon will extend their service as co-vice chairs. Harvard business administration professor Lynn Paine has been re-elected as a public board member.
BFD, right? Perhaps but it’s worth noting that the rest of the board is also primarily made up of representatives from large firms:
Crowe Horwath CEO Charles M. Allen, former SEC Commissioner Harvey J. Goldschmid, PricewaterhouseCoopers Chairman Robert E. Moritz (who replaced Dennis M. Nally on the CAQ board), Grant Thornton CEO Edward E. Nusbaum, Deloitte CEO Barry Salzberg, McGladrey & Pullen managing partner David R. Scudder, KPMG CEO John B. Veihmeyer (who replaced Timothy P. Flynn on the CAQ board) and BDO Seidman CEO Jack Weisbaum
In case you’re not counting, all Big 4 firms are represented along with BDO and Grant Thornton. That’s all well and dandy and I’m sure these guys could at least audit their way out of a paper bag but has it occurred to anyone that all these “representatives of the industry” work for firms that continue to have problems with AUDIT FAILURE?
The list is long of pending litigation but the firms don’t really seem to mind because they’ll claim TBTF. They have the AICPA set out this nice little group, focused on “audit quality” in order to put out press releases about the “work” they’re doing, meanwhile, audits still keep blowing up. Yeah, I guess re-electing the same people will be fine.
CAQ Governing Board Re-elected [Web CPA]
They leaned hard into DEI with this one.
Yeah not subtle about it at all.
Does DEI just mean non-white to you?
There’s a lot of ads with black men wearing glasses, greying beards, wearing business suits etc pitching tech and other high end services. The Madison Ave ad agencies must follow the same formula
KPMG will let you slide on Saturdays mostly, but if you’re not checking in on stuff Sunday night you will be at risk of stinkeye
Yes! “Ben” comes through! That’s “leadership.”
This is the result of a highly financialised civilisation where money plays an outsized role of people’s lives. Money serves a purpose but if it becomes the sole determinant of one’s survival and quality of life, that’s when it becomes problematic.
Gross
Choosing between attending a child birthday party and staying gainfully employed are merely concerns of the entitled. Don’t cry a river with the blue collars and hard hats who make this country great.
Those crying the loudest have no problem with our corrupt welfare system.
Even given the fact that B4 leadership tend to be exceptionally clueless on what normal people value, I still can’t believe the people at Deloitte thought this was a good idea. I legit thought it was satire the first time I saw it.
That guy is obv a virtual background
Don’t kid yourselves. This isn’t just Deloitte. This is the accounting industry as a whole.