Please ensure Javascript is enabled for purposes of website accessibility
December 1, 2022

Footnotes: Speeches, Awards, and Beards OH MY | 05.29.14

Speech by Hans Hoogervorst: 'Charting progress towards global accounting standards' A highlight: "The new Revenue Standard replaces American standards that contain thousands of pages of application guidance and IFRS Standards that provide too little guidance. The fact that we managed to stay converged with our colleagues of the FASB is very important and we intend to stay converged in the future." []

Auditing: Perspectives on its Role, Relevance and Reliability In another speech today, PCAOB Chief Auditor Martin Baumann reflects back on his career: "Most auditors are truly dedicated professionals who care greatly about their role and responsibilities. I know this first hand. I saw it for 33 years at PwC (and hopefully I exhibited it); I saw it as a CFO of Freddie Mac where I experienced it; and now I've seen it while at the PCAOB — as I've worked with the audit profession for 8 years, including 5 years as Chief Auditor, responsible for establishing and interpreting auditing standards. I can say, with some degree of confidence — I know auditors and I know auditing, and I have the highest respect for both!" [PCAOB]

You mean 14 years ago as in the 14 years ago when the dot com bubble popped and the mascot was found drunk in a San Francisco gutter? [Twitter]

Hedgeweek named Rothstein Kass "Best North American Regulatory Advisory Firm" [Hedgeweek]

Justice Dept. Seeks More Than $10 Billion Penalty From BNP Paribas [WSJ]

If you're a Dish Network subscriber, you'll soon be able to pay your bill in Bitcoin [DealBook]

Hackney: Why Section 501(C)(6) Trade Associations Are Undeserving of Tax Exemption Theory supporting tax exemption states that we should subsidize nonprofit organizations that provide goods or services that are undersupplied by the market. A charitable organization that assists the poor is a classic example of a service undersupplied by the market. Business interest group services, however, are found in abundance. [TaxProf]

Shock and awe: the state of California sucks at accounting [Sacramento Bee]

Montana Cable Company Getting Some Idiots To Pay Its Taxes For It, For Freedom [Wonkette]

Man Terrorizes Wife With Unruly Beard: A Modern American Tragedy [Gawker]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a dog in fall leaves

Friday Footnotes: How EY Fights Poaching; Lack of Staff Is Closing Doors; Accounting to Biglaw? | 11.25.22

Big 4 FRC to fine Deloitte £440k over 2018 audit [Accountancy Today] The Financial Reporting Council’s Audit Quality team has issued a notice of a proposed sanction on Deloitte, proposing a regulatory penalty of £440k after it was determined that the Big Four firm failed to comply with the auditing framework in its audit of […]

kitten in autumn leaves

Friday Footnotes: Retired EY Partners Hate on the Split; It’s a Raid!; ‘An Alphabet Soup of Technology’ | 11.18.22

Big 4 EY split threatens to weaken both sides of firm, say retired partners [Financial Times] More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. In a three-page memo seen by the Financial Times, the retired US partners say […]