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Showing posts from September, 2018

Texting abbreviations used by Accountants

LOL = Lots Of Ledgers TIA = Taxes In Action WAYF = Where Are Your Files CRM = Client Rates Me BRB = Brilliantly Reconciled Bank FTW = Fin-Tech Wizards ROFL = reporting on financials live LMAO = loving my accounting online IMHO = invoicing my heart out BFF = bank feeds’r fast WTF = wicked tax filing

Materiality - the music video

The ever-so material accounting song you've all been waiting for!! Materiality is an auditor's anthem created by two accounting musicians: Petty Ca$h [rap] & Auditor Meri [lead vocals & music production].

The role of an auditor

The role of the company auditor is commonly misunderstood.

To help clarify the the limited responsibilities of auditors, reference is often made to the immortal words of Lord Justice Stopes in the Kingston Cotton Mill case: "The auditor is a watchdog not a bloodhound".
Many years later this phrase was famously corrupted by an aspiring young accountancy student. During an examination where he felt under significant time pressure he wrote, in evident frustration: "The auditor is a watchdog, not a bloody greyhound".

When Allan was an accountant on the streets

Many years ago I met Allan Kutner at a local club for aspiring speakers. 

Allan was a city-based Chartered Accountant who told a wonderful story about his early years. I encouraged him to send it in to Accountancy Age who duly printed extracts in their ‘Taking Stock’ back cover feature. 

I recently traced a copy that I must have retained over the years and am delighted to be able to record it on this blog for posterity:

Allan’s hope was that his cautionary tale would help others to overcome the stigma and guilt that society instils in accountants.
After exhibiting an early obsession with maths Allan says that he started going up the city and hanging round Threadneedle Street. 
“I’d go up to business men and ask if they wanted an audit” he writes. “At first they would just look at me disgustedly and rush off. But gradually some would stop and ask ‘how much?’. I would tell them – for a full audit and typed report, £250. But if they just wanted an interim and handwritten report, I’d do it for…