Beer & Inventory via Second Life

This is a great initiative for helping students understand inventory within auditing. Read the AICPA spotlight article here http://www.aicpa.org/InterestAreas/AccountingEducation/NewsAndPublications/Pages/virtual-reality-in-accounting-education.aspx?utm_source=mnl:cpainsider&utm_medium=email&utm_campaign=29Feb2016 Here is a short 4 minute video describing the project https://www.youtube.com/watch?v=r_qGgEsBcfs&feature=youtu.be

Charles Munger just burned through another auditor

http://www.accountingtoday.com/news/audit-accounting/mungers-daily-journal-ousts-auditor-after-material-weakness-tag-77251-1.html Munger is best known as Warren Buffett’s long-time business partner at Berkshire Hathaway Inc. Daily Journal Corp., the publisher where he’s chairman, said Wednesday in a regulatory filing that it named Squar Milner LLP as its new accounting firm. The company replaced BDO USA LLP, which had been hired in mid-2014 after Ernst & Young LLP was dismissed. Daily Journal has stuck to a management approach that puts most of the responsibility in the hands of one executive. Chief Executive Officer Gerald Salzman also serves as chief financial officer and treasurer. http://www.valuewalk.com/2016/02/charlie-munger-daily-journal-2016/

Proposed changes to the International Internal Audit Standards

http://www.journalofaccountancy.com/news/2016/feb/iia-changes-to-help-internal-auditors-201613800.html