Ed. note: we usually do these roundups on Mondays, but since Monday was a public holiday (I know, some of you probably didn’t notice) you get them on Tuesday instead. Welcome to a new work week! YAY!
A former accounting specialist for WFYI Public Media in Indianapolis was charged with conspiracy to commit wire fraud and faces a maximum sentence of 20 years in federal prison if convicted. Joseph Grundfest, Stanford Law School professor and former SEC commissioner argues that the SEC’s proposed prohibitions on certain contract terms for investment advice go far beyond disclosure and impose substantial regulatory obligations. Marcum and Friedman are now officially merged on September 1; the roughly $1 billion, 3,500-person company is called — drum roll — Marcum. KPMG was accused of ‘appalling’ audit work which enabled a US-listed Chinese biotech company to commit a “brazen” $400 million accounting fraud, the Hong Kong High Court ruled on Monday. EY executives are expected to give the go-ahead this week to spin off its audit and advisory business, paving the way for the biggest upheaval in the accountancy profession in more than 20 years, read exclusive to the Wall Street Journal. FASB does not include NFTs in his review of crypto accounting. A Financial Reporting Council (FRC) investigation determined that PwC and its partner Richard Hughes “did not” approach the audit of BT’s handling of debt adjustments with “the necessary professional skepticism”, adding that they did not had not “adequately” documented the work on all of BT Italy’s adjustments (airline quotes by Consultancy.uk).
Who left yesterday?
I finally bought the book review “A World Without Work: Technology, Automation and How We Should Respond” by Daniel Susskind to follow. I also read “Tips for a Successful Career in the Accounting Profession: How to Make Your Assets Far Exceed Your Liabilities” by Jerry Maginnis and Jerry was kind enough to let me grill him on it when I was done . Stay tuned.
Here’s what we’re working on this week:
- Do the 2022 increases match last year’s salary projections?
- Keeping tabs on the post-Labor Day RTO surge
- A long-awaited discussion on mental health in the profession
- Does Big 4 have a bullying problem?
- Revisiting the issue of unionization in accounting firms, why not?
- Is there anything that can be done about the morale problem in accounting firms?
Oh, and we have to discuss the shortage of listeners. Back in May, I asked if listeners were harder to find than a PS5, knowing of course the answer was yes. All these months later, I finally have my PS5 (woooo!) and yet we hear that the listener shortage is only getting worse.
It is all I have. Hope everyone had a great Labor Day. As always, contact us if you have a story idea, want to swap cat pics, or just need to let off steam. And subscribe to our newsletter for more headlines like these, sometimes even with pictures of cats.
Just for shits and gigs, here’s 12 minutes of satisfying hydraulic press grinding. Fast forward past the Kirby at 3:46.
Have a great week everyone!
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