Jim Ulvog

Workplace rules have changed – You need to take charge of your own career no matter where you work and no matter what your position

Leave a Comment / Other stuff, Pondering, Social media /

The rules for work have radically changed. The work world that existed when you started college, even if you graduated this spring, is gone.

If you are working, you need to take charge of your career and your reputation. This applies to brand new staff, experienced audit seniors, and especially partners.  People at every level of employment need to absorb that lesson.

Jenna Goudreau summarizes 14 Rules of the New Marketplace That Millennials Need to Master at Business Insider. My only disagreement with her is that these rules apply to everyone at every level, not just millennials.

…

Workplace rules have changed – You need to take charge of your own career no matter where you work and no matter what your positionRead More »

Workplace rules have changed – You need to take charge of your own career no matter where you work and no matter what your position Read More »

3rd blogiversary

Leave a Comment / Other stuff /

Last week, August 28th, marked the third blogiversary of my lead blog. (Cross-post from my other blog, Nonprofit Update).

Many thanks to those who have stopped by to read. By now you have sensed that I’m having a blast in this blogging journey.

In celebration, I’d like to provide a few stats for my three main blogs. I realize my sites are infinitesimally small in the overall blogosphere. Yet I hope in some small way stats from a small site might be an encouragement to current bloggers and others thinking of jumping into the fun world of blogging.

…

3rd blogiversaryRead More »

3rd blogiversary Read More »

More good stuff for auditors – 9-4-13

Leave a Comment / Accounting, Audits /

A few links and comments that I think would be of interest to auditors. This post: what do PCAOB deficiencies mean, their new report isn’t a big deal, sausage making at FAF, one possible surprise anti-fraud test, and the fun of investigating JPMorgan.

Going Concern – PwC and KPMG Inspection Reports Make Us Wonder: Are Shody Big 4 Audits Here to Stay? – Check out the comments for some good discussion on how important or inconsequential a PCAOB deficiency is.  I’ve long wondered …

More good stuff for auditors – 9-4-13Read More »

More good stuff for auditors – 9-4-13 Read More »

CPAs auditing Broker Dealers ought to take a hint from the second round of PCAOB inspections

Leave a Comment / Audits /

Results of the PCAOB’s CY12 inspections of 60 broker dealer audits are not a pretty picture.

Every one of the 43 firms contributed at least one deficient audit to the 57 of 60 engagements that had a deficiency. For me, the scary parts of the report are the widespread independence issues and the large number of firms whose involvement in the PCAOB world is performing exactly one BD audit.

Independence troubles

Differences of independence rules between the AICPA and PCAOB SEC caused some serious trouble for smaller firms. While the audit itself is performed under the AICPA SASs, auditors are required to comply with PCAOB SEC independence rules.

That didn’t go well.

…

CPAs auditing Broker Dealers ought to take a hint from the second round of PCAOB inspectionsRead More »

CPAs auditing Broker Dealers ought to take a hint from the second round of PCAOB inspections Read More »

Maybe we can finally bury IFRS convergence

1 Comment / Accounting /

My hopes rose even higher that we can finally lay IFRS convergadoption to rest in a 6’ deep grave, lay a thick slab of concrete on top, and pave that entire section of the new cemetery after I read Francine McKenna’s column at Capital Ideas: Regulation, but only if cost-justified. Convergadoption is my word-of-the-day from Adrienne Gonzalez.

Ms. McKenna discusses the SEC staff report that not only didn’t suggest any way forward for convergence but seems to me like an extended argument against IFRS.

She then described a few things that I can’t see with my vision, like declining support from the big firms and possible concessions to reality from the IASB.

…

Maybe we can finally bury IFRS convergenceRead More »

Maybe we can finally bury IFRS convergence Read More »

More good stuff for auditors – 8-23-13

Leave a Comment / Accounting /

A few links and comments that I think would be of interest to auditors:

Accounting Onion – The FRF for SMEs is a “Sack of Mush” – According to Walter Schuetze – Tom Selling continues his discussion of the serious problems he sees in FRF for SMEs. This post focuses on comments made by Walter Schuetze over several years on the direction for any sort of alternative GAAP. The conclusion, I think, is two very simple choices:  GAAP as it stands or FMV for all assets and liabilities. The professor is not impressed with the PCC alternative from FASB.

CPA-Scribo – FRF for SME – The Lowdown – Great Q&A on FRF-SME. I previously commented here on this post from Charles Hall, CPA. It isn’t GAAP. Not intended to be.

…

More good stuff for auditors – 8-23-13Read More »

More good stuff for auditors – 8-23-13 Read More »

Report your peer review status to California Board every two years starting in 2014

Leave a Comment / Audits, Peer Review /

Staring with renewals in 2014, our requirement to report peer review status will take place every two years along with our bi-annual renewal. This is instead of reporting every 3 years. Should make the reporting easier. We will have one less deadline to track.

The following article is reprinted with permission of the California Board of Accountancy.

STREAMLINING PEER REVIEW REPORTING

Changes have been made to the Peer Review reporting requirements! Beginning January 1, 2014, the process will be streamlined and reporting peer review information to the CBA will be done at the time of license renewal. Even though reporting will be done at license renewal, peer reviews are still only required once every three years. In short, you need to report your peer review every two years and have a peer review every three years.

…

Report your peer review status to California Board every two years starting in 2014Read More »

Report your peer review status to California Board every two years starting in 2014 Read More »

Jump in, the (blogging) water’s fine!

Leave a Comment / Other stuff, Social media /

What keeps knowledge workers from blogging? What will you ever say is one of the concerns that holds people back.

If you keep your eyes open, you’ll be amazed how many ideas come to mind. Also, here’s some ideas on getting started. Think about starting a practice blog.

Consider a change in focus:

I view my life through the lens of a blog post. I am constantly aware of ideas that interest me and consider how the experiences of my day could be turned into a story.

…

Jump in, the (blogging) water’s fine!Read More »

Jump in, the (blogging) water’s fine! Read More »

Fingerprints may be needed for your California CPA license renewal starting in 2014

Leave a Comment / Audits, Other stuff /

Your 2014 CPA license renewal in California may require getting your fingerprints taken.  If the board doesn’t already have a set of your prints in their files, you will be making a trip to a Live Scan facility before your next renewal.

Yeah, I know.  More requirements.  Go ahead and complain. I’ll wait.

.

.

.

Feel better?  Good.

Like it or not, make a mental note you may have another one-time step involved with your next renewal. 

The following article is reprinted with permission of the California Board of Accountancy.

RETROACTIVE FINGERPRINTS: FAQS

…

Fingerprints may be needed for your California CPA license renewal starting in 2014Read More »

Fingerprints may be needed for your California CPA license renewal starting in 2014 Read More »

3 bank confirmation frauds

2 Comments / Audits, Fraud /

Previously mentioned that AU-C 505.07 requires auditors to look at the address used on confirmations.

Here are three illustrations of how things can go sour when sending bank confirmations: PFGBest, Parmalat, and a small company in North Carolina:

PFGBest – Peregrin Financial Group

The organization’s CEO was sentenced to 50 years in prison and ordered to pay restitution of $215.5 million.

…

3 bank confirmation fraudsRead More »

3 bank confirmation frauds Read More »