The PCAOB has announced Daniel Goelzer will be acting Chairman of the Board effective August 1. Goelzer brings an impressive resume with him, not to mention a sheriff-like mustache that will undoubtedly let the accounting firms know that he is not to be trifled with.
PCAOB Names Acting
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H&R Block is Not Letting McGladrey & Pullen Leave Until They Talk About This
So the H&R Block/McGladrey & Pullen soap opera break-up has gotten more annoying. At first, it simply looked like a firm falling out of love with its parent company because M&P didn’t want to be stuck with a loser their whole life.
Natch, H&R Block wasn’t going to just let M&P walk away from the best thing that ever happened to the firm. M&P was not going to have that conversation and said that they were still walking out.
The Block feels so strongly that M&P is making a mistake, that it was announced late last Friday, probably in order to not make a scene, that H&RB sued M&P to prevent the termination of their administrative service agreement. Essentially saying, “WE ARE GOING TO TALK ABOUT THIS!“
M&P is not impressed with this desperate attempt to be won back:
“We are disappointed that H&R Block has chosen to pursue litigation,” said McGladrey & Pullen managing partner Dave Scudder. “We are committed to respecting our legal obligations and are confident we are doing so. Thus we are confident this lawsuit has no merit. Under the terms of our shared services agreement, we have every right to terminate that arrangement. We have chosen to do so because it is the best business decision for McGladrey & Pullen LLP in order to serve our clients in the increasingly complex business and regulatory environment.”
M&P is over being held back by HR&B and wants to get out there on their own. Besides, all The Block does is sit around and prepare tax returns for people who can’t read the instructions on the tax forms. You’ve got no motivation, Block. Oh sure, you got into the online tax return prep business but now what? M&P just wants time to be alone, so please respect that.
Block Files Suit Against McGladrey & Pullen [WebCPA via CPA Trendlines]
Harry Markopolos was in Serious Need of Clean Underwear While Investigating Bernie Madoff
Super-star fraud detector Harry Markopolos was named Certified Fraud Examiner of the Year at the ACFE Fraud Conference and Exhibition in Las Vegas last week where he discussed his excellent card-counting method and the Madoff Ponzi scheme.
Harry wanted to everyone to know that just because he blew the whistle on Master de Ponz, that didn’t mean he was a hero. “Heros are brave”, he said, “I don’t think I was brave. I know I wasn’t.” He went on to describe his lack of bravery:
“When I started this case, my underwear were white, they quickly became brown and often times turned yellow”
Okay, after that sinks in, let’s discuss some things:
• We don’t want our fraud detection super-heros to tell us that they soil themselves. It ruins the sex appeal.
• Harry Markopolos wears tighty-whiteys. We were certain that he was a boxers man.
• Was no one helping this guy out? You couldn’t let the guy have a break so he can properly evacuate?
Seriously, the least Marko could have done is stuck his dirty undies, the whites, in a case so the ringer wouldn’t look empty.
Go to Clip 3, “The Math Never Worked Out for Us” on page linked below to see the video. Meanwhile, we’re busy looking for new fraud detection hero that can control themselves.
Madoff Whistleblower Named CFE of the Year [fraudconference.com via Accounting Nation]
Grant Thornton Interns Don’t Get Coffee, Thankyouverymuch
Last week we asked for some perspective on the chicanery and lovable idiocy of your interns. Today we learn that about a Grant Thornton intern who “verifies that clients’ accounting records are accurate and sits in on important meetings.”
That’s right, interns are verifying accounting records and going to important meetings. Probably the type of meetings where they get to take notes on internal control procedures while the experienced associates can barely keep from strangling themselves with a network cable.
Yet, life remains unfair for the interns, “Interns who talked to RedEye said they are gaining experience to prepare them for the workforce, but increased intern responsibilities typically don’t come with increased pay or perks or even more respect.”
After going to those important meetings, interns still aren’t feeling respected people. No increased pay. No perks. How can this be? Haven’t they done enough? They tried to earn your respect by making the copies that you asked for and getting totally bombed at firm events. They didn’t mean to ask so many questions about the copier. They’re just new, so they want to make sure they don’t screw anything up.
What else can they do? Shine your shoes? Fill your car up with gas? Buy your lunch (they’re probably making more than associates on a per hour basis anyway)? The summer internship season is winding down so make sure you’re letting them know (and us) how they can go that extra mile to get that full-time offer.
Chicago interns move up corporate ladder [Redeye]