“As accounting rules get more complex and with the US adopting IFRS in about 5 years who do you think is going to sort through all of it? And who do you think is going to get paid a whole lot to do so? Also, with the exception of a few outliers, accountants are the ones who usually have to fix and sort through said "crises."
"Hire non degree holders that are willing to work their butts off." - What do you think I have been doing for the past 3 1/2 years in college!”
Andy Clark on Jan 5, 2011 at 18:11:55
“I apologize for the generalization I had made. Thank you for the erudite analysis.”
Mark Goldstein on Jan 5, 2011 at 14:34:07
“Exactly... Accounting programs are incredibly rigorous. I'd say about half of the people that begin an Accounting program are able to see it through... the rest are weeded out by the second Intermediate course.”
“I completely agree and I look forward to those that will refute your comments. This coming from a senior at a large university who will be graduating in May, who also has a job, that pays far more than any of the figures listed above mind you, that a graduate from a CC would never be able to get.”
ssrelso on Jan 3, 2011 at 20:57:04
“Apparently your large university didn't teach grammar and comma placement.
“And if you use some logic as to why Microsoft software gets attacked by so many viruses its boils down to, would you rather attack 90% of all OS (PCs) or only 5% of all OS (Macs). And a study was done a while back to see out of all the OS to see which could be hacked quicker, Mac OS was hacked much quicker than Microsoft's.”
gfs5541 on Dec 23, 2010 at 16:50:45
“I don't buy that. I believe that it's mostly because of malware's lack of root access on both Mac OS X (A derivative of BSD) and Linux ; something that Microsoft has eventually resolved with the introduction to User Account Control in Vista and now Windows 7.
Moreover, User Account Control in Windows made Windows less "hackable", but still no root access for malware keeps most of the viruses out in Mac OS X and Linux.”
Bernardo V on Dec 23, 2010 at 15:12:53
“I'd rather target 75% of internet accessible severs and databases, with valuable personal and financial data, credit-card numbers, etc.
Hint: that's neither Windows nor OS X, but operating systems (Solaris, Unix and Linux) that aren't vulnerable to script-kiddies who only half-understand what they're doing. A successful automated exploit (worm or virus) against these systems is big news; worms or viruses against Windows are merely business as usual.
(I'll agree that OS X (being based in large part on BSD Unix) _should_ be rather secure, but there are reasons to doubt that Apple has actually or consistently followed through on the nit-picky, tedious practice of properly maintaining a secure code base.)”
“Everyone needs to get their facts straight and I refuse to dumb this down for the majority. EY was every bit in accordance with GAAP and GAAS when conducting their audit. The disclosure of the use of Repo 105 was not required until June 2009. When an auditor issues an unqualified opinion they do not guarantee anything, they give reasonable assurance that the financial statements are free of material misstatements. And the last time I checked, for someone to be found responsible for fraud they must have scienter, or the intent to deceive, which I do not believe EY had. Lastly, the reason for no criminal charges and only civil charges is because there is much more strict criteria to meet for someone to be found guilty for fraud criminally. Good luck with this one Andy.”
CPAwADD on Dec 23, 2010 at 12:11:08
“Do you find it interesting that of all the financial firms that went belly up, that there was no going concern discussion in the required disclosures. Given how early in the year Bear Stearns blew up was there adequate disclosure on this issue at year end? I doubt it, one hell of a subsequent event though!”
pauldeba on Dec 22, 2010 at 20:09:37
“Do you honestly think Mafioso Cuomo's son is going to settle for the truth? It is just a shakedown, no more than offering EY a little "protection" in return for a "large contribution".”