The PCAOB Wants You to Know That the New Accounting Standards Codification is Not Optional

Posted on by Caleb Newquist

The PCAOB would like all of you auditors to know that you better learn how to use this Codification thing and quit your bitching about how you don’t like it because they can hear you screeching about how much it sucks.
Nevermind that the P is already making your lives difficult with new rules and leaving lame ducks on their board.
Seriously. Get with the program.

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Deloitte Closes Reno Office, Employees Not Totally Munsoned*

Thumbnail image for Reno.jpgDeloitte is closing its Reno office, according to the Reno Gazette-Journal. The firm isn’t letting any of the eighteen employees go, rather they will either work from home or at client locations.

Bad news is that we wouldn’t expect the community colleges in the Reno area to get any attention any time soon and if you’re looking to get in on some free donuts, law enforcement is probably your best option.

Deloitte firm closing Reno office [Reno Gazette-Journal]

*We’re not sure this is necessary but whatevs.

Grant Thornton LLP Names New CEO, Looks to Coin More Inclusive Title of ‘Global 6 Accounting Organization’

Grant-thornton-logo.JPGGrant Thornton LLP has named Stephen Chipman its new CEO, replacing Edward Nusbaum who is taking the CEO position of Grant Thornton International. The changes take place on January 1, 2010.
In a bit of robotic communications work, the two vomit-worthy statements from the CEO’s are oddly similar.
Nusbaum on June 3rd:

‘I am greatly honored and look forward to the opportunity to lead Grant Thornton International,’ said Nusbaum. ‘I will dedicate myself to continuing Grant Thornton’s tradition of strong leadership in the accounting profession and in speaking out on issues of importance. I want the Grant Thornton brand to mean principled people providing superior service to highly satisfied clients around the world’

Chipman today:

‘I look forward to leading Grant Thornton LLP,’ said Chipman. ‘I will dedicate myself to taking action on a number of fronts, including continuing Grant Thornton’s tradition of providing strong leadership to the accounting profession and speaking out on issues of importance. I will also continue our focus on providing the Grant Thornton Experience for our partners, people and clients, and expanding our global service capabilities and corporate social responsibility agenda.’

Okay, they aren’t identical but, sheesh, put some thought into it guys. These statements read like you just found out your wives were cheating on you…with each other.
Boilerplate CEO statements notwithstanding, the other interesting tidbit that was not subtly inserted in today’s press release was the usage of “Global 6 Accounting Organization” by GT.
Look GT, we see what you’re trying to do. You’re trying to sneak in this fancy little phrase that you think will catch on and it’s not working for us. You’re not in the cool kids club. You’re just not. We feel bad for you but you can’t just show up at the cool party while there’s toilet paper stuck to your shoe and expect to start high-fiving PwC and get laid by some KPMG hottie. Nice try.

Stephen Chipman named CEO of Grant Thornton LLP [Grant Thornton Press Release]