Considering a Move? Don’t Believe Everything Partners Tell You to Convince You to Stay
Thinking about leaving public accounting? You are not alone. With burnout and attrition at an all-time high, partners will tell you almost anything to keep you on board. Often half-truths at best, the lies told to staff, seniors, and managers alike are nothing new. Here are some of my personal favorites: Lie #1: If you […]
Don’t Cut CEO Pay For Bad Performance or the CEO Might Cheat
Slashing a CEO’s compensation after a company produces disappointing financial results may help improve earnings for a time, but it can also encourage earnings manipulation, according to a new study. The study, which was presented at last month’s annual meeting of the American Accounting Association, acknowledged that some prior academic research has found company performance […]
Ex-BDO CEO Wins New Trial Because One of the Jurors Lied About Being a Drunk, Shoplifting Shellfish, Everything
Former BDO CEO and wolfpack leader Denis Field has won a new trial on charges of tax fraud thanks to a juror in his trial who lied about her alcoholism and, oh…pretty much everything: U.S. District Judge William Pauley in Manhattan today overturned the convictions, ruling that the presence of Catherine Conrad, who was Juror No. 1, […]
Navistar Says Deloitte Sucks at Auditing; Deloitte Not Amused
Last week Navistar International Corp. sued Deloitte for $500 million alleging “fraud, fraudulent concealment, breach of contract and malpractice” on audits from 2002 to 2005. That, in and of itself, isn’t too unusual. What is pretty fun (not fun in a “man, the circus is fun” kind of way but in “you’ve gotta love this stuff” kind of way) is when a company comes right out and says that Deloitte lied about its competency to provide audit services.