October 31, 2007
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For those that don’t know, Prem is one of the very few brave accountants who is prepared to call out those who abuse their positions of power and authority in the wonderful world of professional accounting…. Prem observes that:This will be the beginning of the end of the consumer protection principle: that the wrongdoer should suffer the consequences of his/her negligence.The demand for a liability ‘cap’ is being pushed by PricewaterhouseCoopers, KPMG, Deloitte & Touche and Ernst & Young. These accountancy firms audit 97 per cent of the FTSE 350 companies, as well as major companies in other countries…. Their annual audited accounts do not provide any meaningful information about their liability costs, insurance cover, legal or out-of-court settlements.Big firms are using their lobbying muscle to secure even more liability concessions because this would help to increase profits.Prem then goes on to explain why this is wrong. Rather than improving the quality of audit work to reduce risks, the auditing industry demands and continues to receive liability concessions to improve its profits.Richard Murphy notes:Prem’s arguments are spot on – and thankfully have the support of the Association of British Insurers.Yesterday, Francine McKenna noted that:From Accountancy Age comes this story of a firm called IM Litigation Funding that is bankrolling a suit against Moore Stephens, a next-tier firm. The plaintiff’s bar is already all over this stuff, bringing suits against the auditors much more quickly than in the past. But with the possibility that other entrepreneurial types may see opportunity in the deep pockets of the larger firms and their propensity to settle instead of going to trial, there may be something big brewing here.One thing Prem omits…. My questions are directed at Michael Izza, CEO of ICAEW: As CEO of the premium professional brand, when are you going to get a grip of the few who make professional life a misery for the many who get tarred with the same brush?
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October 31, 2007
Featured
The other day I received the following email from a PR genius:”Is there an e-mail address I can reach you at for PR purposes?”I know the person who runs the office from which this came. I suggested he takes said genius out the back and thrash them soundly with a cluestick. You know who you are
Today I received another:”I was wondering whether you already had an editorial calendar or feature list for 2008. If so could you please forward it to me so that I can distribute it”For this I solicited help from my Twitter network. (All first links are Tweets so the rest of you geniuses know who else not to irritate)Al at Folknology suggested throwing this link from Chris Anderson. The pertinent bit:I only want two kinds of email: those from people I know, and those from people who have taken the time to find out what I’m interested in and composed a note meant to appeal to that (I love those emails; indeed, that’s why my email address is public). Craig at SAP suggested:2008 I plan to blog
Fellow Irregular and ZDNet contributor Mike Krigsman suggested:Dear PR Lady: Unlike magazines, bloggers have no editorial calendar…. Maybe take a look.Ric Hayman from Australia suggested:Yes…and nowt elseDon’t you just love the blogosphere?
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