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- Greg Kyte
- June 23, 2017
Exposure Drafts appears more often when the editor is away. Send your best accounting cartoon […]
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Accounting News Roundup: Schapiro Aide Leaving for PwC; Grant Thornton Getting a Makeover?; Extra Important Hand-washing | 04.29.11
- Caleb Newquist
- April 29, 2011
Schapiro Aide Said to Be Leaving SEC for PwC Accounting Firm [Bloomberg]
Kayla J. Gillan, a senior adviser to U.S. Securities and Exchange Commission Chairman Mary Schapiro, is resigning to take a job at PricewaterhouseCoopers LLP, according to people familiar with the matter. Gillan will be a principal in a new group at the firm focusing on regulations affecting auditing firms, according to one of the people, who spoke on condition of anonymity because the move hasn’t been announced.
Grant Thornton Plans Global Brand Repositioning [AT]
Grant Thornton LLP is planning a major marketing campaign later in the year to reposition the Chicago-based firm around the world. “Look for a major brand repositioning for us in the fall,” CEO Stephen Chipman said in an interview.
GE’s Immelt resigned from NY Fed board last month [Reuters]
Immelt had been a member of the New York Fed’s board since January 2006, helping provide anecdotal input to policymakers about developments in the U.S. and global economy. “I am, with great regret, tendering my resignation as a member of the Board of Directors of the Federal Reserve Bank of New York given the increased demands on my time,” Immelt wrote in a letter to New York Fed President William Dudley dated March 9.
Crocs Q1 beats estimates, but Q2 profit view falls short [Reuters]
The company also said it named Jeff Lasher as its new chief financial officer. He was Crocs’ principal accounting officer and interim principal financial officer since January 2011.
House Republicans grill IRS on healthcare reform funds [The Hill]
Republicans on the Ways and Means Committee wrote to IRS Commissioner Douglas Shulman on Thursday demanding to know how much money the Internal Revenue Service is getting from Democrats’ healthcare reform law. The law created a $1 billion Health Insurance Reform Implementation Fund, and the letter alleges that the IRS has already received “tens of millions of dollars from this fund to implement parts of the health care overhaul.” The funding is believed to be on top of the $473.3 million the IRS would get in healthcare related funding under President Obama’s 2012 budget.
William’s Royal Giggle Fest [TDB]
According to The Guardian, the workers who made the dress had to wash their hands every 30 minutes to keep the lace clean. As Kate entered Westminster Abbey, the cameras respectfully panned away from Prince William, who seemed to suffer an attack of the giggles as his future wife made her way up the aisle. When the couple were finally face to face, William mouthed, “You look beautiful,” and a billion hearts melted around the globe.
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Exposure Drafts: Roses Are Red, Violets Are Blue, You Bill by the Hour, So Get Back to Work
- Greg Kyte
- February 14, 2017
Exposure Drafts appears every other Wednesday and on holidays ruined by busy season. Send suggestions […]
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3 thoughts on “Exposure Drafts: What Do Arthur Andersen and Tony Hawk Have In Common? They Both Shred”
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oops- you forgot that the Supreme Court of the United States unanimously overturned the verdict against Arthur Andersen. Unanimously. Or does that not count?
Disposing of superseded, errant, extra and extraneous material by shredding is part of every accounting firms standard process so as to exercise effective version control.
How would you do this?
What an insipid comment and childish drawing. And insensitive to all who lost their employnet never having done anything wrong.
“Workers at four Andersen offices in the U.S. and Europe toiled around the clock for two weeks to destroy ‘tons’ of documents after federal regulators launched a probe into Enron’s accounting.”
You’re absolutely correct that no charges stuck to Arthur Andersen, but it’s also absolutely clear to me that — although they followed the auditing standards of the time — they failed their responsibility to the public.
Also, yes, the cartoon is insensitive to the Arthur Andersen employees who lost their jobs. But isn’t defending them insensitive to all the innocent people who lost their life savings as a result of Arthur Andersen being more interested in revenue than in calling out unethical (albeit compliant) accounting practices.
And, admittedly, the quality of the drawing is on par with a nine-year-old.
I agree that Greggy’s attempted illustration sucked. It was also way outdated as no one really cares what happened 20-22 years ago. Many good people got screwed but Greggy could care less.
But I will defend ole Greggy boy…we give him every right to be a tool and he has surpassed our expectations.