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Here Are the Going Concern Editor’s Picks for 2013

Posted on by Caleb Newquist

Happy New Year's Eve, capital market helpers. To quote another, "Everyone sober? Close enough." 

We figured it was about time we dug up some stories from the past year that we, the Going Concern staff, found enjoyable. We have been slaving over a hot blog the entire year just for you and now we're going to reacquaint you some stories that you may have forgotten.

Enjoy and have a safe and happy New Year!

What if a Big 4 Firm Counted the Votes for the Papal Conclave?

The Time Person of the Year was none other than Pope Francis, but before the world knew that we were getting the first Jesuit Pope, celibate dudes sporting funny hats from all over the world got together to choose the next Chief Padre through an anceint process called the Papal Conclave.

At the time I thought it might be fun to cook up some scenarios that would result if Big 4 firms were tasked with overseeing the Conclave's voting. And now that many of these very firms are helping the Vatican sort out its finances, the possibilty seems slightly less crazy.

 

PwC's stunt with the Best Picture Academy Award Envelope

When the Best Picture envelope wound up at the White House rather than the Dolby Theatre, it got me wondering what could have gone wrong with the process. And if you read the actual account of the logistics involved, you learn that quite a bit could've gone wrong!

The whole thing went off without a hitch, but had something gone awry, I tried to imagine how PwC's role would have played out.

I'm Gay, CPA

This discussion from back in February was one of the most honest and encouraging from the past year.

If you're out and working in public accounting you need to read it.  

Oh no, Mr. and Mrs. Joe!

Houses, amirite?

Deloitte CEO Joe Echevarria and his wife Ana had a bit of a spat with their real estate broker back in May and it DID NOT work out in the their favor.  

 

Lists of Best Accounting Firms to Work For Are the Worst

Greg Kyte kicked off 2013 by explaining why. Seems like a perfect time for a reminder.  

 

Oregon Man Seduced by IRS Agent

It stands to reason that the facts from this story have been used for the plot of a porno, but if not, there's a real opportunity here.

The Complaint Against Scott London

If you've been giving serious thought to forming an insider trading conspiracy, I advise you to read the details behind the scheme put together by ex-KPMG Scott London and his former golfing buddy Bryan Shaw. It'll be useful in determining what exactly NOT to do. 

The Great CPA Exam Score Release Delay of 2013

WE WILL NOT FORGET!

This is why Twitter was invented, my friends — pure, unhinged, overreactions from CPA exam candidates. And it went on for days. DAYS! Since then, NASBA and the AICPA seem to have the score releases on lockdown, but rest easy, we'll be on guard for future #CPAexam #freakouts.

Hug it out, Klynveldians.

We all know that there's nothing quite like a good squeeze from a colleague to lift your spirits during the throes of busy season. It just so happens that no one took the time to turn it into a company-wide effort.

That ended last February when we learned about KPMG's Kuddling Kampaign. Of course it's important to remember that this is not a green light for anyone to make awkward advances on a comely co-worker. 

EY!

Look, you guys. I know that companies have to occasionally rebrand themselves to keep pace with the competition, showcase their hipness to clients, and try convincing employees that their company is cool, but when taking on a project like this, there's no margin for error.

Ernst & Young was transforming into EY, they were marching out a new CEO, they had a new tagline, all kinds of work and late nights and Chinese takeout was involved here.

And yet, somehow the Google Image results for "EY" were overlooked. 

I don't know how something like this happens, but for us, it doesn't matter. We're just glad that it did.

 

Dishonorable Mentions

So many to name, but here are a few:

Hope you enjoyed 2013 as much as we did. See you in 2014.

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Barry Salzberg Makes Bob Vila Look Like a Lego Master

salz_dirty Hands_JPEG.jpgBarry Salzberg took time from talking up his chief rival for the Global CEO spot the new Deloitte Consulting CEO to write a piece for the Washington Post about how corporate philanthropy is alive and well.
You’re probably aware that this isn’t Dr. Phil’s first foray into virtual print. Not only has Salz given imaginary advice to the POTUS but he also did a “freewheeling” piece for Fortune on volunteerism.


The latest WaPo piece rings the same charitable note (although it’s considerably less freewheeling) and reminds everyone that not only will Deloitte continue to cut checks, they will also provide “skilled volunteers.” This is clearly part of the ongoing effort to not be seen as a giant faceless, professional services firm but a giant professional services firm that has mustache that may have buried treasure in it and a clean scalp that you can barely resist rubbing for luck.
Now while these “skilled volunteers” could possibly include the best and brightest giving NPOs the lowdown on double-entry accounting, you’ll note that the piece is entitled “Getting our hands dirty”.
Since it’s probably been many moons since the big guy has looked at a spredsheet — and he doesn’t really strike us as the type of guy to speak in metaphors — we’ll assume that he’s literally getting his hands dirty. That being said, we definitely envision something with a tool belt and possibly coveralls with an expertise in drywall or indoor plumbing.
If you’ve got thoughts on Dr. Phil’s latest scribal effort or what kind other blue-collar skills he has, discuss in the comments.
Getting our hands dirty [Washington Post]

The Guy Tweeting From Life at Deloitte This Week Might Need a Cold, Post-Workout Kool Aid

As most of you already know, the Life at Deloitte Twitter account is a great […]

The Fall Busy Season Has One Ernst & Young Team in Danger of Going into Diabetic Shock

By way of the Ernst & Young Staff Twitter account, we learn that the young associates are quite fond of the snack drawer:

While I’m not one to condone such unhealthy life choices, I am not lost on the fact that these drawers of death are not uncommon. That said, if all of you out there in E&Y land insist on this type of sustenance, I suggest you get a pair and put down the whole drawer in a prescribed amount of time. The bankers and hedgies have been doing this for years and since many of you think yourselves worthy of their ilk, you should be able to hold your own in the mass consumption of factory produced crap. Anyone up for the challenge should provide a full inventory of the items to be consumed as well as the time limit and the prize to the winner should they emerge victorious. Additionally, I would need to be given a play by play in order to appropriately report the progress and results to the world at large.

We’re waiting. The gauntlet has been thrown.