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February 8, 2023

Friday Footnotes: Deloitte’s Drunken Antics; KPMG Killing Grandma?; Social Ch-ch-change | 1.15.21

A Glass or Two of Red Helps Square the Numbers [Bloomberg Opinion] Good long read on Deloitte and Autonomy: “The Deloitte partner leading the Autonomy work sent his client an email from his wife’s account saying that “after a glass or two of red wine” and a plate of her “medieval pasta” he’d drafted an explanation of the proposed accounting treatment himself, for Autonomy to work on. “This needs to come form [sic] you to us,” it went on. Clearly this is not how an auditor should be telling a client to provide supporting evidence for their accounting.”

Individual CPAs can apply for .cpa web domain Friday [Journal of Accountancy] The .cpa domain application window will open Friday for licensed CPAs to apply for on an individual basis, the AICPA announced. Beginning at 10 a.m. ET Friday, individual CPAs can request their preferred branding using .cpa, which is the restricted internet domain for the accounting profession. Thousands of licensed CPA firms and approved organizations, such as state CPA societies, submitted applications for .cpa domains from the program’s launch on Sept. 1 through 6 p.m. ET on Thursday.

IMA CEO sees 6 ‘megatrends’ for accountants this year [Accounting Today] Institute of Management Accountants president and CEO Jeff Thomson is predicting six megatrends in the finance and accounting profession this year.

Accountant Who Aided Worldwide Scam Charged with Small Business Administration Loan Fraud [Department of Justice] A former accountant who assisted in a scam involving valuable artwork and a Swiss bank account has been charged in connection with a scheme to fraudulently obtain a Small Business Administration (“SBA”) loan.

Ban KPMG from removing stock, say former Debenhams workers [Irish Examiner] “We’re out during level 5 lockdown now because KPMG thinks that packing stock is essential work when it isn’t,” Valerie Conlon, Mandate trade union shop steward, who worked in the Patrick Street store, in Cork said.

Can companies drive social change? PwC’s Roy Weathers on racial equity [Reuters] Said Weathers in an interview: “The best place to operate is in a society that is healthy. These individuals who are protesting are putting forth a desire for change and are advocating basic principles of social justice: equity, rights, participation. They are our customers and our employees.”

Middle market CFOs predict ‘extraordinary’ growth in 2021, survey finds [CFO Dive] “Unprecedented was the buzzword in 2020 for good reason,” BDO CEO Wayne Berson said in a statement. “Many middle market companies persevered through levels of transformation and disruption in one year akin to what some companies experience in a full lifecycle, but rather than hunker down and endure, middle market leaders endeavor to move forward to refresh strategy and enhance agility.”

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