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September 27, 2023

Monday Morning Accounting News Brief: Where Are the Ethics?; The SEC is Watching | 6.13.22

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Financial Times boldly suggests that because of constant financial scandals accounting programs need to do a better job of teaching students not to screw up. “These scandals have intensified concerns that a poorly developed approach to teaching behavioral, as opposed to technical, skills is reducing ethical standards and professional independence,” writes FT. Meanwhile in Canada, Big 4 firms have dropped their vaccine mandates, PwC did so in April and said it will have floors for mask-wearers and floors for people who are comfortable without them as their people begrudgingly return to office. The SEC has made it known that it’s going to be up EY’s ass about this audit/consulting split: “As you get capital infusion, often times those capital providers have other companies in their portfolio,” Paul Munter, acting chief accountant to the Securities and Exchange Commission, said on the sidelines of an accountant liability conference in Washington. “The question then becomes what does your affiliate tree look like and what are the potential conflicts that are created by an expanded affiliate tree.”

Here’s a guy in India who stayed at PwC for 32 long years sharing what he’s learned. I didn’t watch the whole thing, does he suggest at any point in this 21 minute video that there are far better ways to spend three decades of your life?

A couple things we’re working on:

    • reporting from the frontlines of the WFH war
    • Gen Z is ruining business casual, old people approve
    • advice to the one person in public who wants to stay
    • accounting students continue to shun the CPA exam
    • speaking of the CPA exam, KPMG has a new program to help its auditors take it
    • more on the EY consulting/audit split
    • a quickie on most in-demand credentials for accounting professionals (beyond a pulse, that is)
    • updating a 12-year-old Going Concern post: “Do Accounting Firms Care if You’re On Drugs?”

If you came across a headline we missed you think we should talk about, please shoot us a text at 202-505-8885, email [email protected] or @ me @inkywretch and we’ll get to it.

Finally, here’s three hours of cat lofi to start your week. Bless.

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