« On the Midwestern Calendar for March: Two Events Addressing the Audit Profession | Main | Medical Check-Ups and Annual Audits: What if Your Doctor Reported Like Your Accountant? »

January 18, 2010

Comments

Rick Telberg

Excellent reasoning! As usual.

But, next question:

What would the new “structure” look like?

And why aren’t smart firms moving there already?

Jim

Thanks Rick.

As for why the firms aren’t going there — I’ve written on this — see my archive for July 11, 2009. A very quick summary is that their leaders are hand-cuffed to the present model, unable to break their partners from the revenue and unable in this litigation environment to offer or sell new kinds of assurance to their clients.
As for structure — to avoid catastrophic collapse, one possible scenario is federal chartering, so long as there is a real blank-page approach to the regulatory and liability issues. Again, see my archive for June 10, 2008.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)

Never miss a post
Please enter all required fields
Correct invalid entries

  • © 2007-2019 James R Peterson Special thanks: Francine McKenna. Always with love: Kat and Julie. In memory: Bob White, Stuart Kadison