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Come on now, my dog is much smarter than Trump
In fairness, when my boss asks me to do something, telling him I’ll “prioritize it” is something I often say too.
I think it makes sense and would help many of the dumb operating decisions companies make just to get the quarter numbers right. But if it goes to bi-annual reporting, the half year report is likely to be more robust than a 10q, so you may be in a similar amount of work as doing 3 quarters just different timing.
A) maybe I’m just not following the right people, but “China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis” seems like something he heard 5 minutes before posting that, but he’s convinced is an old proverb
B) I don’t know that we should be following a communist country’s approach to business unless we’re going to implement a lot of other changes to our marketplace
C) I only audit private companies, so my experience with quarterly reviews is limited, but it sounds like a good idea from a market efficiency perspective, at least for smaller companies
The SEC - it just means more
Please don’t insult my dog
It tracks that he would want to do that, less transparency from corporations.
Pro
Well, I just looked over to the spot on the floor where my dog is happily licking himself, so I'm not sure I even want to think about that "brain of a large dog" comment.
This exists in Europe already and most large companies still choose voluntarily to report quarterly because the investors want it and expect it
Fewer quarters would probably result in fewer staff since you can cover private audits with public staff, and less revenue per engagement across the board.
B4 are already making a turn to private. They’re more profitable.
Public audits build the brand. Private audits pay the partners.
Less external compliance, continued internal focus
Why do we even have reporting?
Celebrate absolutely fuxxed revenue for big 4 😁😁😁😁😁
TDS on full display