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Bob Herz and Jim Kroeker Are Avoiding the Convergence Dance

dancing_herz_Kroeker_jpeg.jpgFor the love of everything that is good and holy, would someone like to be the FASB Chairman? Or the Chief Accountant of the SEC?
We realize that they’re both thankless jobs but we need people in there that are going to make some things happen.


After Jim Kroeker said this:

“[T]he boards have agreed that the projects that they’re working on are areas that need improvement, not just under U.S. GAAP but under IFRS, then I think convergence efforts should continue or would continue without an SEC finalization of the roadmap,”

Bob Herz is now saying this:

“[T]he ball is mostly with the [SEC] at this point” … Herz noted the SEC has yet to rule on the “roadmap” for U.S. compliance with IFRS it proposed a year ago.

So, let’s get this straight: JK is said, “You go first.” Now Bob Herz is saying, “No, you go first.” Does anyone want to introduce these two clowns? Are they waiting for knighthood before they move on this?
We suggest that somebody toss Mary Schapiro in there to A) complete the trilogy of stooges and B) so she can bonk their heads together. That might get them motivated.
Herz: U.S. Convergence Ball Is in SEC’s Court [CFO]

New Accounting Firm Merger Challenge

merge.jpgWe read about an accounting firm M&A specialist who is predicting what he calls a “mega-merger” between two of the top 25 firms. Since this guy is probably getting greased on the deal we’ll take him at his word but unfortunately he’s not naming names.
So for the pure sport of speculation, we need your best and worst guesses of what firms will be getting together and what the new combined firm will be called.
We’ve taken the liberty of listing the top 25 firms for you:
The list, after the jump


• Deloitte
• PricewaterhouseCoopers
• KPMG
• Ernst & Young
• BDO Seidman
• Grant Thornton
• RSM McGladrey/McGladrey & Pullen (divorce nothwithstanding)
• CBIZ/Mayer Hoffman McCann
• Crowe Horwath
• BKD
• Moss Adams
• Plante & Moran
• Clifton Gunderson
• J.H. Cohn
• UHY Advisors
• Reznick Group
• Virchow, Krause and Co.
• Dixon Hughes
• LarsonAllen
• Marcum & Kliegman
• Rothstein Kass and Co.
• Weiser
• Eisner
• Eide Bailly
• Wipfli
Try to use your number crunching brains for some creative combinations. Call your friends in marketing if necessary. If we get enough good suggestions, we’ll put together a poll to vote on the best.
We’ll get it started: Hughes Dixon Moss
Think about it. Work with us people. Just charge your time to an administration code, it’ll be fine.