Posts Tagged ‘Cox’

In politics you must always keep running with the pack.  The moment that you falter and they sense that you are injured, the rest will turn on you like wolves.
R. A. Butler (1902 – 1982)

Politics, n. Strife of interests masquerading as a contest of principles.
Ambrose Bierce (1842 – 1914), The Devil’s Dictionary

Yesterday’s big news–a splash into the cesspool of self-interested politics over accounting standards.

Charles Niemeier, member of PCAOB

The New York State Society of CPAs sponsors an annual conference featuring speakers from the Public Company Accounting Oversight Board (PCAOB).  Yesterday, outgoing PCAOB member Charles Niemeier assaulted the SEC push to replace U.S. GAAP with International Financial Reporting Standards (IFRS).  In his strongest public comments to-date, Niemeier came out strongly in favor of retaining U.S. GAAP.  Two public accounts of his remarks quickly became available

In my opinion, these two accounts are worth a serious read.

Before I became an accounting professor, I received a B.A. in Political Science.  This has always given me a different perspective when reading accounting regulation news.  Upon first reading about the speech, my first reaction (shared with the accounting professors at AECM) was, “I’m curious as to whether Niemeier’s career as a regulator is over.”

Little did I know that Niemeier’s career has already ended.

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