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I read "A memo to CPA firm CEOs" (Oct. 5-18, 2009) with great interest. Mr. Miller and Mr. Bahnson have done a great job of challenging public accounting firms, particularly the larger partnerships. Their breakdown of the Four Es is on target, in my opinion. I was particularly intrigued to see this coming from academics. I would expect this from colleagues of mine who have been in public accounting and see the challenges with the partnership model from the inside. The partnership model, at least with the large firms and, I suspect, with some of the small and mid-tier firms, in my opinion is never going to be entirely independent.
November 16 -
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Corporate clients will likely be approaching their next audit with extra care. The reason: A recent federal appeals court decision has made it clear that information previously viewed as private under the "work-product doctrine" may no longer be protected. That means companies will now think twice before providing such information to their auditors.
November 16 -
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Perhaps the most critical goal of professional portfolio management is to allocate client assets in such a manner as to achieve appropriate diversification.
November 16 -
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When working in the high-tech sector before the dot.com bust, we were engaged in sophisticated and powerful growth strategies. After the bust, it became apparent to me that these could be replicated within public accounting firms. I just had to understand how the model applied to the uniqueness of accounting firms in general, and to the needs of individual firms.
November 16