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Friday Footnotes: CPAs Take on Climate Change; Tom Hood Goes Off; Operational Separation | 2.28.20

How Regulators and PwC Fooled Reporters—Again [Pro Market] Francine McKenna is on the war path, as usual.

CPAs would be happy to help state government plot a strategy to finance education [Baltimore Sun] In which Maryland Association of CPAs CEO Tom Hood throws down in a letter to the editor: “Our opposition is not reactive or reflexive, it is proactive and meant to prevent a bad tax policy from being passed that may be doomed to repeal once the realities of the complexity and cost of implementation, administration and collection are realized.”

Accounting profession leaders call for action against climate change [Journal of Accountancy] “The accounting profession has long focused on assessing and managing financial risks,” Barry Melancon, CPA, CGMA, president and CEO of the Association of International Certified Professional Accountants, said in a news release. “However, the global risks we are seeing today, in particular environment-related risks, are pushing our profession to expand its remit.”

FRC sends letter to Big Four outlining ‘operational separation’ [Compliance Week] The U.K. Financial Reporting Council penned a letter to the Big Four outlining expectations for how the auditors should go about separating their audit work from their consultancy business.

The Accountant 2 Might End Up Happening In A Different Way, According To Ben Affleck [Cinema Blend] It seems that one of the major delays in the follow-up is that screenwriter Bill Dubuque hasn’t had the time to write the movie, which has led to some considering alternatives in order to make The Accountant 2 happen, simply find a different script, or change the medium.

The National Debt Is ‘Unsustainable’ and the Pentagon’s Finances Are a Total Mess, Federal Audit Says [Reason] The federal government’s books are in such bad shape that auditors can’t even do their jobs, and the national debt is growing at an “unsustainable” rate, the Government Accountability Office (GAO) warned in its annual comprehensive review of the government’s financial statements.

Illinois CPA Society announces Inspiring Leader Award recipient [Accounting Today] The Illinois CPA Society and its CPA Endowment Fund of Illinois have announced that Kari Natale, senior director of planning and governance at the Illinois CPA Society and senior director of the CPA Endowment Fund of Illinois, has been honored with the Association Forum’s Inspiring Leader Award.