There are few things that leave me gobsmacked but the above headline from Times of India is up there among stuff that requires a double take. The detail:
The questioning of Ramesh Rajan, chairman and CEO of PricewaterhouseCoopers, India (PwC) by CBI last week, has revealed that the
Satyam balance sheets were in fact audited by Lovelock [...]
The FT reports push back on the FRC’s ‘comply or explain’ boardroom code:
The companies are seeking a change in the code’s underlying principle of “comply or explain”. This principle, which has influenced similar codes round the world, requires companies to meet guidelines of best practice or explain publicly why not.
Companies believe that the “comply or [...]
It is rare that I disagree with Mark Lee but his post on the future of the profession at AccountingWEB struck a nerve with me. In talking about International Standards on Auditing, Mark said:
Audit firms will need to invest in new training and systems to comply, but there won’t be any additional fees so this [...]
Many readers will know that Richard Murphy, Francince McKenna and myself are sharp critics of the profession for one reason or another. Today I stumbled upon Michael Ramos who writes the EyeShade blog. One post entitled: Is the accounting profession like GM (with the implied bankruptcies that might lead to) caught my eye:
I’ve been working [...]
