Accounting Newsletter 

The CPA Credential and the Profession Are in a Race For Relevance, Says ICPAS CEO Todd Shapiro

Interest in the CPA credential has been down significantly since at least 2016, and we have discussed this issue to death so I don’t need to link you to the evidence (but here’s some anyway). The problem here is that talking about it isn’t solving it, thus we will continue talking about it and hope it all works out somehow. Fewer people taking the CPA exam on its own isn’t a huge problem (well, the AICPA might say it is but they’re slightly biased), especially when you consider the trend…

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Accounting Advices 

Friday Footnotes: A Very Guilty Accountant; Beware Audit Independence; Grant Thornton a Thing | 10.29.21

Wealthy retired accountant is found guilty of murder [Daily Mail] The pregnant daughter of a wealthy retired accountant who was today jailed for life after stabbing her husband to death has told the court of her heartbreak, saying: ‘I lost my dad but I’ve also lost my mum.’ Isabelle Potterton said on Friday that her mother Penelope Jackson – who murdered her retired colonel husband David, 78, on her 66th birthday and calmly told police ‘I should have stabbed him more’ as he lay dying – is ‘not the person…

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Accounting Services 

There May Never Be a Better Time Than Right Now to Find a Remote Tax Job

It’s the best time ever to find a remote tax job according to our friends over at Accountingfly (full disclosure: they own Going Concern so by “friends” we mean “benevolent overlords”): October through December is always the “high season” for tax hiring. For tax professionals, there are only so many times during the year that it’s acceptable to switch jobs, and October through December is the window when demand (from firms) ramps up. But Q4 this year is shaping up to be even busier than usual, according to Beth Dierker,…

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Accounting Services 

One KPMGer ‘Annoyed’ By New Enhancements to 401(k) Match and Pension Programs

I wanted to make a comment about KPMG’s new 401(k) rules. As a recent US hire, the changes annoyed me in some ways. Here’s why: What the article (“Changes to KPMG’s 401(k) Contribution Policy Seem to Be Getting Positive Reviews”) didn’t mention or what your source material may have left out is that in addition to fortifying the 401(k) plan, reducing healthcare costs, and adding sick leave, the firm will be dropping the pension plan for all new hires hence forth (the plan will remain in place for those currently…

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Accounting Advices 

This Probably Didn’t Go Over Too Well With Many Grunts At EY

Carmine Di Sibio“I was just talking to our team in terms of the importance of people, the importance of being empathetic, the importance of making sure that we’re taking care of our people. And, you know, we talk to our clients about this all the time. We’ve actually hired 115,000 people in the last year, but we’ve also lost people. So, you know, the culture of the organization is incredibly important. And our culture, and hopefully many companies’ culture, is around taking care of their people. And that was really…

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Accounting Advices 

Ungarbling Financial Accounting

Alas, I have not posted very much of late.  But, it’s only because I am trying to find as much time as possible to write my book describing a simple, comprehensive and robust basis of accounting that any public company could use; and that would produce more relevant information for investors than U.S. GAAP or IFRS.…Did you miss our previous article… https://www.digital-accountants.com/?p=233 Christina Lanewww.digital-accountants.com

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Accounting Newsletter 

Will CAMs Get the Shaft from the ‘New’ PCAOB?

In recent years I have presented an update on the activities of the PCAOB at the annual meeting of the Association of Audit Committee Members.  From that experience — particularly this past year — I can tell you that audit committees are not happy with PCAOB rulemaking.  Much of it feels to them kind of…Did you miss our previous article… https://www.digital-accountants.com/?p=230 Christina Lanewww.digital-accountants.com

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Accounting Advices 

GAAP and the Federal Budget Deficit

The accounting topic of the season is income taxes.  But, as the nation contemplates what Congress could end up passing, I want to talk about how one under-the-radar amendment to financial accounting standards has been quietly adding to the federal budget deficit for two decades and counting. The amendment I speak of came into existence…Did you miss our previous article… https://www.digital-accountants.com/?p=227 Christina Lanewww.digital-accountants.com

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Accounting Newsletter 

Walter Schuetze: 1932 – 2017

I marvel at how much mere happenstance can play in a career.  I might not have become a teacher, or gone to graduate school but for one meeting with an administrator when I was a senior at Cornell. Twenty years later, I was privileged to serve as the academic fellow in the SEC’s Office of…Did you miss our previous article… https://www.digital-accountants.com/?p=224 Christina Lanewww.digital-accountants.com

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Accounting Services 

Rays of Sunlight to Shine on Audits — and Auditability

Yesterday was a very good day for investors! The SEC finally approved PCAOB rules that will make a lot more information public about what actually went down during the audit. It is certainly fair to say that the new model for the audit report is of historic significance.   And of the new items, by…Did you miss our previous article… https://www.digital-accountants.com/?p=221 Christina Lanewww.digital-accountants.com

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