Related Posts
Moss Adams Admits New Partners, Campaign for ‘Global Eleven’ Next?
How about some good news to end your week? Well, that is, if you’re a newly minted partner at the 11th largest CPA firm and the largest firm with HQ on the Left Coast:
Press release:
Moss Adams announces the admission of six individuals to the partnership in September and two managing directors. The firm currently has 250 partners, 52 of which are women or 21%. These figures emphasize the firm’s growth and continued acceleration of Forum_W, the firm’s effort to support efforts to attract, develop, retain and advance women.
All very impressive, and we congratulate the new partners on putting their asses on the line. ‘Global Eleven Accounting Firm’ doesn’t quite have the cachet we’re looking for. Maybe ‘Elite Eleven’*? Whatever, but we’re sure Moss Adams wants included in some sort of moniker. Leave your suggestions in the comments. Or start drinking. Whatevs.
*Read Moss Adams marketing people: You’ll never get to ‘Global’ anything until you get a logo out there that we can use for an image. Put it on Wikipedia for crying out loud. Crowe Horwath has an image. Get with it.
Non-Knights Don’t Think Rule Convergence Is All That Important
Not everyone is as hung up on converging U.S. GAAP and IFRS as Sir David Tweedie.
As you may recall, Tweeds delayed his retirement in order to see the rules copulate and bring forth debit and credit harmony.
As admirable as his commitment to the project is, not too many people share his enthusiasm:
A survey by CFA Institute , an international association of more than 16,000 investment professionals, showed that three quarters of respondents believe that improving standards so they are more useful for making investment decisions is “at least as important if not more important” than reducing complexity or convergence.
While respondents generally support convergence, only 6 per cent of those surveyed, including research analysts, portfolio managers, corporate financial analysts and accountants, believe converging the International Accounting Standards Board and its US rival should be the primary objective.
It’s bad enough that Tweeds gets hassled by non-knighted clowns that don’t know a debit from their ass but now there’s a survey out there that says his pet project isn’t that important.
Plus, the SEC doesn’t seem too hung up on it and the FASB has its own problems. Has double-entry chivalry lost all its meaning?
Investors cool on audit convergence [FT]
Does Grant Thornton’s Business Optimism Index Mean Anything?
Grant Thornton, a global six accounting organization, puts out a quarterly optimism index that is “a quarterly confidence measure of U.S. business leaders”.
That sounds very nice and the index is now up to 2007 levels, according to a firm press release. The press release also states that “58 percent of respondents believe that the economy will come out of recession by the first half of 2010, but only 26 percent plan to increase hiring.”
Call us cynics but this definitely has the whole underpants theory written all over it. Poll some executives with some vaguely worded questions and we are to believe that recovery will occur by virtue of a secret plan that has yet to be developed? Leave the wild speculation to us GT.