Greetings RSS subscribers who never got around to deleting me from their feed readers! It has been exactly one year since I announced my hiatus from blogging. I’m back!
A year ago I had broken free of the shackles of public accounting and taken on a new challenge in internal audit at a global building materials company. My adventures over the past year will provide the material for many blog posts in the future.
As well, the world was a much different place a year ago. Credit had already begun drying up, but things hadn’t quite gone completely sideways yet. Risky, greed-driven lending, opaque, incomprehensible derivatives, and the absence of my unique take on accounting have led to housing, credit and banking crises, plunging the entire world into recession.
The FASB is expertly highlighting its growing irrelevance by agreeing to change mark-to-market to mark-to-sorta-market-but-not-really-because-banks-don’t-like-having-to-write-down-their-worthless-derivatives-to-fair-value. Because letting powerful bankers and the supine politicians beholden to them determine accounting standards is a great idea.
In short, I’m returning to blogging during an interesting time.