AccountingWEB News Wrap-Up - Issue 217
- SEC Exempts Two Reports From CEO & CFO Certification
- Deloitte Entangled in Nation's Worst Insurance Failure
- 2003 MAP Survey Provides Insight Into Accounting Profession
- Microsoft Issues Four New Critical Security Updates
- E&Y Chief Executive to Retire After Just One Year in Top Spot
- Arthur Levitt to Chair Academic "Think Tank"
- Faulty Accounting Forces Resignation of Three at CA
- FASB Defers Date For Guidance on Variable Interest Entities
- US, EU Close to Agreement on PCAOB Registration
- Will Corp. Annual Reports Follow The Homeland Security Color Scheme?
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Communication channels across the accounting profession continue to concern me deeply. I had the privilege of speaking to a group of exceptionally bright accounting students at Indiana University last week. Their top concern: a glut of accounting candidates and low demand for jobs.
I then read the results of the 2003 MAP survey of hundreds of CPA firms. Their top concern: finding and keeping qualified staff.
What's going on here? Why can't one group communicate effectively with the other? If both sides can continue to make an effort to reach out and "live" in the others'world, inviting each other to networking events and really taking the time to know and understand one another, than perhaps greater solutions can be found that can help alleviate the concerns and anxieties that both sides feel in these turbulent times.
Michael Platt, CEO
e-mail Mike Platt
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With the threat of criminal prosecution, millions in fines and possible jail time facing them for signing off on corporate reports they know to be false, CEOs and CFOs have been leaving nothing to chance. They can breathe a little easier now that two reports have been taken off the list of those requiring their certification.
- More SOX News
The Pennsylvania Insurance Department is pointing fingers at Big Four firm Deloitte, alleging that the accounting firm contributed to the largest insurance company failure in the United States.
- More Firm News
More than 1,000 CPAs representing 47 states participated in the annual Management of an Accounting Practice survey, providing information about their firm size, length of time in practice, financial information, source of fees, salary, billing, benefits information, services provided, technology usage, and their concerns about the profession.
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On Wednesday, Microsoft announced four new critical issues regarding the Microsoft Windows product line. All four affect versions of Windows 2000, and three of them also affect other Windows versions, including Windows XP software and Windows Server 2003 for businesses.
- More Tech News
Ernst & Young announced this week that its global chief
executive, Richard Bobrow, will be stepping down from the top spot and effectively retiring immediately. Mr. Bobrow initially assumed his CEO role in July 2002.
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Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.