February 2018

Episode #180: Free-rider Friday - February 2018

Ron’s Topics

The Human Freedom Index, 2017, CATO Institute, FRASER Institute

United States slips to #17. Why?

 

“The Upchuck wagon,” The Economist, Feb 3, 2018

23% of those survey say they will never ride in an autonomous car.

Nausea afflicts 5-10% of the population. Another issue for Uber and Lyft. Luckily a patent has been filed on a technology that claims to solve motion sickness.

Passing of Fidel Castro, Jr.

FidelJR.jpg

In late Jauary, Fidel Jr. (“Fidelito”—Little Fidel), 68, killed himself—he battled depression most of his life—as reported by Cuba’s state media.

He was never close to power. Fidel Castro had 10 or 15 kids, no one really knows.

Fidel Jr. studied nuclear physics in USSR, married a Russian woman, resulting in several children. In 1980 he took aa job at Cuba’s Atomic Energy Commission. In 1992, Fidel fired him, accusing him of mismanagement and incompetence.

In 2000, he was rehabilitated and worked for the Cuban Academy of Sciences, traveling around the world as a “science advisor.”

SpaceX

The government doesn’t insure cargo that goes into space. On January 7, cargo code named Zuma was launched on SpaceX’s Falcon 9 rockets.

The cargo was a $3 billion Northrop Grumman satellite, which is classified so there’s no detailed information.

It didn’t blow up on launch, like two others, but the satellite it was caring failed to maintain orbit, believed to have ended up in the Indian Ocean.

When the Pentagon was asked about the failure it referred to SpaceX, and when SpaceX  was asked, spokesperson replied: “Falcon 9 did everything correctly on Sunday night.”

Is there a moral hazard here, knowing taxpayers will suffer any losses? Would insurance make sense?

At the least, taxpayers should be made aware of details.

And, from historian Victor David Hanson, “Will train overpasses become California’s Stonehenge?

“Life on the edge,” The Economist, January 20, 2018

deadcloud.png

There’s a big shift taking place in the tech industry: Computing is moving from the cloud back to the “edge” of local networks and intelligent devices.

Who will colonize the edge (IOT), etc? Devices on the edge are becoming more powerful.

For example, a self-driving cars produces 25 gigabytes per hour, 30 times more than a HD video stream. By time data is uploaded and instructions sent back, the pedestrian has been hit.

Last May, Microsoft changed slogan from “Mobile first, cloud first” to “Intelligent cloud and intelligent edge.”

Amazon Web Services (AWS) service Greengas, turns clusters of IOT devices into mini-clouds.

Supporting this view is an interview in Forbes with George Gilder: “Why Technology Prophet George Gilder Predicts Big Tech’s Disruption,” Rich Karlgaard, Forbes, February 9, 2018.

We highly recommend you read this interview, and watch for Gilder’s latest book, Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy, due out July 16.

At some point, we will have Gilder back on to discuss these issues, and more.

Ed’s Topics

Gender gap in pay is about being a parent NOT discrimination. A few articles:

Ron recommends reading the economic literature on this topic, which is overwhelming that the gap doesn’t have much, if anything, to do with discrimination. It’s more personal choices and biological. One book: Why Mean Earn More: The Startling Truth Behind the Pay Gap—and What Women Can Do About It.

Ed takes his first flight in a Boeing 787 Dreamliner

 It was nice, but not significantly noticeable. 

Dave Chapelle understands international free trade better than Donald Trump

Great line: “I want to wear Nikes not make them.” Video is NSFW!

Episode #179: The Value Guarantee

Many firms think it counterintuitive to offer incentives for their customers to complain, worrying they would be inundated with angry customers; or if they did not respond effectively, they might lose the customer. These fears are unwarranted, however. The advantages of offering a value guarantee are many. It demonstrates to customers that your firm is serious about customer service and providing an exceptional experience for them. It puts your money where your mouth is. It is one thing for a firm to tell customers how good they are, quite another to show them with a value guarantee. It gives your entire organization the impetus to exceed the customer’s expectations, since now your money is on the line. This focuses the firm on the only true profit center it has: a customer’s check that does not bounce. But there’s even a bigger reason to offer a value guarantee, which Ed and Ron disclosed on the show.

The Value Guarantee

The original language is from Christopher Hart via David Maister's book True Professionalism:

Our work is guaranteed to the complete satisfaction of the client. If the client is not completely satisfied with our services, we will, at the client’s option either waive professional fees, or accept a portion of those fees that reflects the clients level of satisfaction.

Ed and Ron suggest the following modifications to bring it more into alignment with the concepts of the VeraSage Institute.

Our work is guaranteed to the complete delight of the customer. If you are not completely delighted with the work performed by us, we will, at the option of XYZ Company, either refund the price or accept a portion of said price that reflects XYZ’s level of value received. Upon payment of each of your scheduled payments, we will judge you have been satisfied.

Many firms think it counterintuitive to offer incentives for their customers to complain, worrying they would be inundated with angry customers; or if they did not respond effectively, they might lose the customer. These fears are unwarranted, however.

The late marketing professor Theodore Levitt made this observation with respect to asking for customer complaints: “One of the surest signs of a bad or declining relationship with a customer is the absence of complaints. Nobody is ever that satisfied, especially not over an extended period of time. The customer is either not being candid or not being contacted.”

Christopher W.L. Hart’s enlightening book Extraordinary Guarantees: Achieving Breakthrough Gains in Quality and Customer Satisfaction asks a very valid question: Why force people to pay for things that, in the end, they don’t value? He documents the case of the Bugs Burger Bug Killer Company (based in Miami, Florida and run by Al Burger), a pest control company specializing in the hospitality industry.

Al knew most customers did not want to control pests, but to wipe them out, so he developed an extraordinary guarantee to ensure his customers he could do the job:

You don’t owe one penny until all pests on your premises have been totally eradicated. If a guest spots a pest on your premises, BBBK will pay for the guest’s meal or room, send a letter of apology, and pay for a future meal or stay.

If you are ever dissatisfied with BBBK’s service, you will receive a full refund of the company’s services plus fees for another exterminator of your choice for the next year.

If your facility is closed down due to the presence of roaches or rodents, BBBK will pay any fines, as well as any lost profits, plus $5,000.

Would you pay a premium for the services of BBBK, given the above guarantee?

The Advantages of Offering a Value Guarantee

According to the U.S. Office of Consumer Affairs, 37 to 45 percent of all service customers are dissatisfied with some aspect of the service they receive, but do not complain. This risk of customer defection can be ameliorated by offering a money-back value guarantee.

The advantages of this policy are many. It demonstrates to customers that your firm is serious about customer service and providing an exceptional experience for them.

It puts your money where your mouth is. It is one thing for a firm to tell customers how good they are, quite another to show them with a value guarantee. It gives your entire organization the impetus to exceed the customer’s expectations, since now your money is on the line. This focuses the firm on the only true profit center it has: a customer’s check that does not bounce.

The value guarantee establishes a competitive differentiation and helps to sway the marginal customer to select your firm (especially important in Request for Proposal [RFP] work). Because having a guarantee requires a higher level of trust, the firm will do a more diligent job of prequalifying all of its new customers and will document the expectations of each party much more thoroughly.

A service with a guarantee is more valuable in the marketplace than a service without a guarantee—because it dramatically decreases the customer’s risk—and this alone enables the firm to command a premium price over its competition (think of FedEx, Nordstrom, Disney, Amazon, and BBBK). Experience shows firms can command a 15-25% price premium over their strongest competitor if they offer a guarantee.

It provides word-of-mouth advertising for your firm, because customers appreciate this policy and will be more enthusiastic about referring new customers.

It provides the customer an incentive to complain, which as we have learned, is more valuable than the alternative, because it gives the firm an opportunity to fix the service defect, preventing the same mistake being made with another customer. It is a constant trial—with the customer as judge and jury—and forces the firm to update and improve system delivery processes.

With all of that said, there is even a more substantial reason you should offer a service guarantee to all of your customers: You already do. If any of your customers were to complain loudly enough, you would make adjustments to their account, according to their wishes. Or, you would ask the customer to pay only what he or she thinks is fair. Unfortunately, this is done after the fact, when you will receive no benefit from it.

In effect, you have a covert value guarantee; I suggest you make it overt in order to gain a marketing and competitive advantage over your competition—one that you trumpet in the marketplace.

Fedex.jpg

Fred Smith, when he started FedEx, painted it on the side of his airplanes and delivery trucks: “Absolutely. Positively. Overnight.” If FedEx doesn’t deliver you don’t pay—an excuseless culture.

The best source for developing a value guarantee is the front-line team members who have the most interaction with the customer. They understand where the breakdowns, inconsistencies, reworks, mistakes, and variations occur in the service delivery chain. They also understand what is possible to deliver, and can formulate a value guarantee they will have ownership and pride in.

Will some customers take advantage of a guarantee policy? Probably. But consider Nordstrom, legendary for taking back merchandise not even purchased from its stores. It estimates that 2 to 3 percent of its customers take advantage of this policy, yet 97 to 98 percent appreciate the policy and are more loyal—and pay a premium price—as a result.

Do not let the tail wag the dog. If any one customer were to abuse your service guarantee, he would actually be doing you a favor by self-identifying himself as a problem customer. Gladly refund his money and fire that person from your firm.

Please do not misconstrue anything I have said here as meaning “The customer is always right.” That is patent nonsense. Even e-Satisfy.com has shown through its research that up to 40 percent of expressed dissatisfaction is caused by the customer’s own mistakes or unreasonable expectations.

Yet while the customer is not always right, it is no use to argue with him, since I have rarely seen anyone win an argument with a customer. The fact is, customers are entitled to their feelings and will act upon them, even if intellectually they are wrong. Sometimes the only course of action is to fire them.

southwest.jpg

There is nothing worse for your firm’s morale than to continue to serve customers who do not understand or appreciate the value you provide. Given a choice between continuing a relationship with a toxic customer and the effect it might have on the morale of your team members, observe who former CEO of Southwest Airlines, Herb Kelleher, sided with, as this story from Nuts! Southwest Airlines Crazy Recipe for Business and Personal Success humorously illustrates:

. . . [a] woman who frequently flew on Southwest, but was disappointed with every aspect of the company’s operation. In fact, she became known as the “Pen Pal” because after every flight she wrote in with a complaint. It was quickly becoming a volume until they bumped it up to Herb [Kelleher’s] desk, with a note: “This one’s yours.” In sixty seconds, Kelleher wrote back and said, “Dear Mrs. Crabapple, We will miss you. Love, Herb.”

And this is a company who computes that only five customers per flight account for their entire profit. So why would Kelleher so nonchalantly fire a customer? Because he stands up for his people and puts them first. Once his response was published in the Southwest newsletter, what do you think happened to team member morale?

If it comes down to a choice between your team members and an unreasonable customer, side with the team members, even at the expense of short-term profits. The team members will make up for the lost revenue, but you can hardly ever recapture the loss of dignity and respect team members suffer by forcing them to work with rude and unreasonable customers.

Even better, let your team members decide which customers to fire—you will be surprised how diligently they perform this task and then how motivated they are to make up the lost revenue.

Conclusion

It is extremely rare to be “wowed” by a service experience today, a rather sad state of affairs. Yes, it is difficult for firms to continuously raise the bar of service standards, and exceed their customer’s expectations, but most do not even appear to be trying. There are, no doubt, many reasons for this service apathy, from too much focus on what happens inside of a firm, internal initiatives more concerned with the workflow and time measures rather than the customer, to compensation structures and cultures that no longer support superior service.

If you were to examine all of the great sources of wealth creation throughout the history of the world, you would notice this profoundly important truth: In every era, the businesses that succeeded and achieved excellence took a clear stand for the customer. Indeed, the central purpose of a business is to create and serve a customer.

By providing a value guarantee, your firm will offer a superior value proposition to its customers, allowing you to charge a premium price, one commensurate with the value you are creating. A good idea whose time is now.

Other sample gurantees

Graniterock

Your satisfaction is guaranteed through our unique Short Pay Policy that states, "If you are not satisfied… don’t pay us. We will contact you immediately to resolve the problem."

Moores

Can we give you a 100% guaranteed final price?

Most of the time yes, but no-one has a crystal ball. Things change, goal posts shift. Litigation, for example, can be very unpredictable.

However, what we will do is:

  • explain all the possible scenarios and their likely cost

  • agree on a fixed price for each stage

  • guarantee our service

Service Guarantee - we can’t guarantee outcomes but like price, the quality of our service is another thing we can guarantee up front. If you think the quality of our service didn’t match what was agreed, let us know and tell us how you think that should be reflected in the price you pay.

Fedex

You can count on FedEx reliability. We have a remarkable on-time delivery record, and we back FedEx Express® shipments, FedEx Ground® shipments within the U.S. and to Canada, and FedEx Freight®shipments with a money-back guarantee.

Nordstroms

We handle returns on a case-by-case basis with the ultimate objective of making our customers happy. We stand behind our goods and services and want customers to be satisfied with them. We'll always do our best to take care of customers—our philosophy is to deal with them fairly and reasonably. We have long believed that when we treat our customers fairly, they in turn are fair with us. We do apply returns to the tender it was purchased with. If we choose to provide a refund and no record of sale is available, we will ask for personal identification and a return will be provided at current price on a Nordstrom Gift Card.

Other resources

LL Bean dropping its unlimited returns policy, CNBC.com, February 9, 2018

'Loyal' LL Bean customer sues company for changing legendary returns policy, USAToday, February 14, 2018

Episode #178: Bad Medicine

For 2,400 years patients believed doctors were doing good; for 2,300 years they were wrong. Until the invention of antibiotics in the 1940s doctors, in general, did their patients more harm than good. Why do bad ideas die hard?

Ed and Ron discussed two important books that illustrate the need for us to constantly challenge our core assumptions about the way world works: Bad Medicine: Doctors Doing Harm Since Hippocrates, by David Wootton, and The Butchering Art: Joseph Lister’s Quest to Transform the Grisly World of Victorian Medicine, by Lindsey Fitzharris.

The Butchering Art

Joseph Lister, April 5, 1827 – Feb 1912 (84).

Testing ether during surgery in London, 1843, known as the “Yankee dodge” (discovered 1275!), first used in USA 1842.

One surgeon could amputate a leg in 30 seconds (once, testicles too).

Between 1843-1859, 41 medical students died from fatal infections.

Lister almost quit medicine after his brother died, and become a preacher.

The microscope played a big role in Lister’s work, but most doctors thought it was a toy.

Lister’s germ theory was rejected byThe Lancet, the leading medical journal.

He created disciples: Listerians, who saw his methods work in hospitals.

People who never doubted Lister’s work: survivors!

Doctors in the USA remain unconvinced, up until the mid-1870s. Massachussets General was the first hospital to use Lister’s methods, in 1877.

Listerine was invented and marketed by Dr. Joseph Joshua Lawrence in 1879, PA; Johnson & Johnson was also formed, first selling sterile dressings and sutures.

“New Opinions are always suspected, and usually opposed, without any other reason but because they are not already common.” - John Locke

One of Lister’s assistants said, “A new and great scientific discovery is always apt to leave in its trail many casualties among the reputations of those who have been champions of an older method. It is hard for them to forgive the man whose work has rendered their own of no account.”

“When a distinguished but elderly scientist states that something is possible, he is almost certainly right. When he states that something is impossible, he is almost certainly wrong.” –Arthur C. Clarke

Bad Medicine: Doctors Doing Harm Since Hippocrates

“We know how to write histories of discovery and progress, but not how to write histories of stasis, of delay, of digression. We know how to write about the delight of discovery, but not about attachment to the old and resistance to the new.”

Bad Medicine Drives Out Good Medicine

The history of medicine begins with Hippocrates in the fifth century BC. Yet until the invention of antibiotics in the 1940s doctors, in general, did their patients more harm than good.

In other words, for 2400 years patients believed doctors were doing good; for 2300 years they were wrong.

From the 1st century BC to the mid-nineteenth century, the major therapy was bloodletting, performed with a special knife called a lancet.

Interestingly enough, that is the title of today’s prestigious English medical journal, The Lancet. Bad ideas die hard. “The lancet was the magician’s wand of the dark ages of medicine,” according to Oliver Wendell Holmes.

Bloodletting had its opponents of course, but the debate was over where in the body to draw the blood from, not over its effectiveness.

Four treatments were used for 2,000 years: emetics, purgatives, bloodletting and cautery, ¾ remained standard therapies longer than that.

The Case Against Medicine

The author makes three devastating arguments.

First, if medicine is defined as the ability to cure diseases, then there was very little medicine before 1865. Prior to that—a period the author calls Hippocratic medicine—doctors relied on bloodletting, purges, cautery, and emetics, all totally ineffectual, if not positively deleterious (no matter how efficiently they were administered).

The term iatrogenesis describes how doctors do harm while trying to do good. It is estimated that one-third of good medicine is a placebo effect, meaning medicine up to 1865 was less effective than placebos today.

Second, effective medicine could only begin when doctors began to count and compare, such as using clinical trials.

Third, the key development that made modern medicine possible is the germ theory of disease.

This is not to say that advances in knowledge were not made prior to 1860. Unfortunately, those advances had no pay-off in terms of advances in therapy, or what Wootton calls technology—that is, therapies, treatments, and techniques to cure.

So until the 1860s, doctors had knowledge of what was wrong but could only use it to predict who would live and who would die.

Wootton describes how the advances in knowledge did not change therapies, in perhaps the most devastating conclusion in the book:

  • The discovery of the circulation of the blood (1628), of oxygen (1775), of the role of haemoglobin (1862) made no difference; the discoveries were adapted to the therapy [bloodletting] rather than vice versa.

  • ...[I]f you look at therapy, not theory, then ancient medicine survive more or less intact into the middle of the nineteenth century and beyond.

  • Strangely, traditional medical practices—bloodletting, purging, inducing vomiting—had continued even while people’s understanding of how the body worked underwent radical alteration.

  • The new theories were set to work to justify old practices. [Emphasis added].

In a reversal of the scientific method, the therapies guided the theory, not the other way around.

Diffusing a new theory into a population is no easy task, nor is it quick. Wootton describes in captivating detail how various innovations in medicine were rejected by the medical establishment (the following list is much longer):

Examples of delay and resistance

  • Joseph Lister is credited with positing germ theory in 1865, yet there was considerable evidence for this theory dating back to 1546, and certainly by 1700. Prior to this, infections were thought to be caused by stale air and water (even Florence Nightingale believed this).

  • Wootton says 1865 is turning point, not transformation. 1950s medicine started extending life

  • Even though by 1628 it was understood that the heart pumped blood through the arteries, the use of tourniquets in amputations didn’t happen until roughly a century later.

  • The microscope was invented by 1677—simultaneously with the telescope, which lead to new discoveries in astronomy—yet as late as 1820 it had no place in medical research, believed to be nothing more than a toy.

  • Penicillin was first discovered in 1872, not 1941, as popularly believed. Its effectiveness was doubted for nearly 70 years.

  • The theory that bacteria, not stress, causes stomach ulcers was met with considerable resistance for over a decade. This is explained in a fascinating book The Great Ulcer War, by William S. Hughes.

  • Anesthesia was discovered to kill pain by 1795, first used on animals in 1824, then dentists. It wasn’t used by doctors in surgery until 1846, in London, and it was degradedly labeled the “Yankee dodge.”

  • Dentists pioneered anesthesia. One of first painless dentists, Horace Wells, was driven to suicide by the hostility of the medical profession.

  • The thermometer was invented in the 17th century, but was not commonly used until 1850 in Berlin, then New York by 1865.

  • The medical profession resisted the use of statistics and comparative trials for centuries. The first comparative study was conducted in 1575, but it took until 1644 for the next one. Then John Snow’s 1855 account of transmission of cholera in the water was rejected for over a decade. The modern clinical trial dates from 1946.

  • Puerperal fever or childbed fever caused one-half of 6 to 9 women in every 1,000 to die in the 18th and 19th centuries. In May 1847, Ignaz Semmelweis, a Hungarian doctor, advocated doctors wash their hand in between patient—and cadaver— examinations. The incidence of fever fell dramatically, but he didn’t publish his findings until 1860, which by that time he was considered an eccentric, being confined to a lunatic asylum in 1865; two weeks later he died. (Interestingly, even he still believed the disease was caused by stale air).

Why the delay?

Wootton believes the primary obstacle to progress was not practical, nor theoretical, but psychological and cultural—“it lay in doctor’s sense of themselves.” Consider the psychological obstacles:

  • Medicine has often involved doing things to other people that you normally should not do. Think for a moment what surgery was like before the invention of anesthesia in 1842.

  • Imagine amputating the limb of a patient who is screaming and struggling. Imagine training yourself to be indifferent to the patient’s suffering, to be deaf to their screams. Imagine developing the strength to pin down the patient’s thrashing body.

  • Imagine taking pride, above all, in the speed with which you wield the knife, in never having to pause for thought or breath: speed was essential, for the shock of an operation could itself be a major factor in bringing about the patient’s death.

  • To think about progress, you must first understand what stands in the way of progress—in this case, the surgeon’s pride in his work, his professional training, his expertise, his sense of who he is.

The cultural obstacles, Wootton believes, are based on a somewhat counterintuitive observation: institutions have a life of their own.

All actions cannot be said to be performed by individuals; some are performed by institutions. For instance, a committee may reach a decision that was nobody’s first choice.

This is especially true for institutions that are shielded from competition and hermetically sealed in orthodoxy.

In a competitive market, germ theory would have been tested in a competing company, diffusing into the population much faster than it did within the institutions of the medical community.

Germ theory was adopted because the medical profession knew it was in crisis.

Why is this Relevant to the Professions?

The similarities between bad medicine, the billable hour, timesheets, Frederick Taylor’s efficiency metrics, and value pricing are illustrative. Even today the US Centers of Disease Control reports that 2 million people get infections in hospitals, of those 90,000 die. The largest cause? Failure to properly wash hands.

In physics the key barriers to progress are most likely theoretical. In oceanography they might be practical. What are the key barriers to progress in the professional knowledge firm?

My VeraSage colleague Tim Williams remarked on Wootton’s book: “It makes me think about Stephen Covey’s premise [in his book, The Seven Habits of Highly Effective People] that if you want to make incremental changes, work on practices. If you want to make significant changes, work on paradigms.”

The problem is, minds are slower to change than markets, especially in the professions.

If a supposed scientific and evidence-based profession is this slow to change, what chance do lawyers, CPAs, and other professionals have to move away from the discredited labor theory of value—the modern-day equivalent of bloodletting?

Will the professions resist change for as long as doctors did? Are the cultural and institutional legacies that entrenched? Do professionals really want to define themselves by how many hours they log on a timesheet?

We do not know, but the evidence seems to indicate in the positive. Obviously, burying the billable hour and the timesheet is going to be a very long process indeed. It may not be within reach, but it is certainly within sight.

Other Reading

Ron’s article in the CPA Practice Advisor, “The Diffusion of Value Pricing in the Profession.”

Episode #177: Interview with Barry Melancon

barry-melancon.jpg

Barry C. Melancon is the President American Institute of CPAs and CEO, Association of International Certified Professional Accountants, the most influential body of professional accountants in the world with 650,000 members and students.

Formed in 2017, it combines the strengths of The Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA), which Melancon also leads as President & CEO.

Barry joined the AICPA in 1995 when he was 37 years old, and is now the longest serving CEO in the organization’s 129 year history.

Under his tenure, the AICPA has grown to become the largest membership body of CPAs in the world and has spearheaded a number of initiatives to benefit not only the profession, but also investors, business owners, lenders and the general public.

These include audit quality centers; private company reporting standards; eXtensible Business Reporting Language (XBRL); the computerized CPA exam; and two consumer financial literacy education programs.

Topics we discussed with Barry

Take us from a small CPA firm in Louisiana to president of the AICPA—did you aspire to be head of the AICPA?

What’s your “Why”—what motivates you, why do you do what you do?

Enron, etc., was a rough couple of years, but you and the profession persevered, and even grew stronger—is that how you assess it as well?

Actual ad from 2002. Happily the AICPA and the accounting profession have emerged stronger than ever.

Actual ad from 2002. Happily the AICPA and the accounting profession have emerged stronger than ever.

What do you think about Sarbanes-Oxley, has it helped or hurt?

What’s the one issue in the profession that keeps you up at night?

How do you see all this new technology—blockchain, AI, etc.—do you see them displacing, or complements, or substitutes, to existing CPAs?

You don’t have a dystopian view of all this technology; you sound more optimistic about it?

According to Tim Harford’s book, Fifty Inventions That Shaped the Modern Economy, the language of accountancy is an oral tradition. We are getting back to that, those with excellent auditory skills will flourish.

22036a7.png

Wouldn’t be a VeraSage interview if we didn’t discuss timesheets. Is the AICPA looking at changing its peer review standards on timesheets for firms that are moving away from using them?

The challenges of security with the online CPA exam?

Demography is destiny. What are the demographics of the profession?

What advice would you give to a small CPA firm owner?

What one thing would you want someone like me to say to an accounting high school class?

Related Interview

Our interview with the AICPA’s Mark Koziel, Episode #75, from January 15, 2016.