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Footnotes: Pass the Fried Chicken; NQ Mobile Has a Good Day; PCAOB Mulling Over New Audit Standard | 06.04.14

Posted on by Adrienne Gonzalez

Billy Walters: No wrongdoing with Phil Mickelson, Icahn "I can tell you one thing, there ain't going to be anything to come out of this other than someone spending a lot of time and a lot of money," Walters told USA TODAY Sports. "Because I certainly haven't violated any insider trading laws. [USA Today]

U.S. Organizations Falling Behind in Fight Against Cyber Crime, Study Says PwC is thrilled their report is making the rounds [TIME]

The city of Chattanooga is hoping fifth time will be a charm on its streetlight audit [CTFP]

Some tips on being more assertive in order to be a better communicator Hint: assertive and asshole are not interchangeable [Lifehacker]

For the report wonks out there, Thomsen Reuters just dropped "An Overview of the Revised Accounting Model for Revenue Recognition" [TR]

Taxpayers in Dallas must really, really like fried chicken [Dallas Morning News]

Taking a Chance on a Health Insurance Strategy the I.R.S. May Not Approve [NYT]

NQ Mobile Jumps as Company Investigation Finds No Fraud [Bloomberg]

PCAOB to Consider Adopting an Auditing Standard on Related Parties, Amendments Regarding Significant Unusual Transactions, and Other Amendments [PCAOB]

This right here is why you shouldn't run around the zoo in a gorilla suit [Gawker]

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Hopefully the IASB Gets the Point

stephen-colbert.jpgAfter learning yesterday about the Accountancy Age Awards we thought that the celebration of accounting couldn’t get any better. And by “better”, we mean incredibly lame.
Satire being a common theme here, we definitely appreciate Christian Aid‘s attempt to help accountants, most specifically the CRAPASS IASB, to reconsider their indirectly screwing of poor countries:
Continued, after the jump

The International Accounting Standards Board (IASB) has been handed a tongue-in-cheek award from Christian Aid, after winning the charity’s Greatest Potential for Tax Reform award…PriceWaterhouse Coopers (PwC), KPMG, Ernst & Young and Deloitte & Touche also collected awards…Campaigners want the Board…to instigate urgent and far-reaching reforms – including forcing companies trading internationally to report profits made and taxes paid in every country where they operate. Christian Aid estimates that countries in the developing world are deprived of $160 billion annually in lost revenues by companies disguising their tax liabilities.

This is probably the closet thing to a Razzie that exists for the accounting industry so we’re happy to support them for the sake of argument.
If you’ve got other ideas about other awards that accountants deserve and who the recipients are, submit them in the comments.
Accounting Standards given tongue-in-cheek reform award [politics.co.uk]

Is Patrick Byrne’s Facebook Friends List Motivated by a Farmville Obsession?

Thumbnail image for farmvillePat.jpgWe haven’t really touched on the Patrick Byrne’s ill-fated attempt to stalk his critics (and all their friends, acquaintances, and complete strangers) mostly because we weren’t on the list and those that were (including Gary Weiss, Sam Antar, Joe Wiesenthal, and Barry Ritholtz) are doing a fine job of pointing out how desperate, shady, and just plain fucking bad this makes Patsy, his head minion at DeepCapture Judd Bagley, and Overstock look.
We only bring it up now because we’d like to point out that it’s worth speculating on the other side of this story. Our contention is that P. Byrne, being of questionable mind and maturity, is OBSESSED with Farmville and it is his personal mission to destroy the Farmvilles of his critics and their FB friends (now who’s movin’ up in Farmville, bitches?).
This agonizing torture method will eventually wear down the haters to the point to where no one will be able to take the man, his doomed-to-fail quest to locate an auditor, and his company seriously and will thus give up their quest of destroying him.
The only other thing we can come up with is that he has an intense hatred of trite status updates and was going to expose everyone for their lack of substantive commentary but we find all his critics to be interesting bloggers, so we tossed that theory.
Grant Thornton and PwC have got to feel pret-tay good about how this all turned out. If you’ve got you own theories or thoughts on this situation, feel free to discuss them here.

Oh, So You Want to Quit Your Job? Tell Me About The Farewell Email You Wrote

Listen, I think we're all still a little traumatized by the last farewell email posted […]