More good stuff for auditors – 6-10-13

There are so many good accounting articles that I would like to discuss in a full post. Alas, time does not permit.

Thus I will start putting up a list of good stuff that I’d like talk about but only have time to recommend with a sentence. Focus will be on articles I think would help other CPAs.

Here’s my first list:

Grumpy Old Accountants – Crazy Eddie Revisited: Old Lessons for Today’s Accountants Just a few of the tough questions we auditors need to address: are we ready to deal with the 10% of the population that are quite willing to do the wrong thing? Can we recognize when we are being flattered, misdirected, or deceived?

The Accounting Onion – How Managers Do Love the Leasing ED: Let Me Count the Ways – The first of what will be many critiques of the Leasing ED. Seven major ways for managers to manage lease accounting.

CPA-Scribo – The Three-Day Audit – A question to create focus on what the highest risks are: what tests would you perform if you had only three days to complete an audit.

CPA-Scribo – Slaying a Sacred Cow: The Balance Sheet Audit – with the risk assessment model, we need & must do a risk based audit; we can’t just take the ol’ beat-up-the-balance-sheet approach.

Grumpy Old Accountants – Insider Trading or Lack of Transparency: Which is the Bigger Sin?– Is there something worse that the KMPG insider trading fiasco and not knowing who the lead audit partner is? Perhaps the lack of public knowledge of how the big firms operate should be what we worry about.

Grumpy Old Accountants – Is FASB Killing the Auditing Profession? Is the astounding complexity of GAAP making balance sheets unauditable?

Re:Balance – KPMG’s Independence, Herbalifes’ Stock Price, and the Game of Name Blame What does it say of the value investors place on auditor independence when KPMG pulling years of opinions because of insider trading doesn’t appear to have had any impact on those company’s stock prices?

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