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	<title>Comments on: Treasury Appoints PwC and EY &#8211; The Wolves Are In The Henhouse</title>
	<atom:link href="http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/feed/" rel="self" type="application/rss+xml" />
	<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/</link>
	<description>The Business of the Big 4 Audit Firms</description>
	<lastBuildDate>Wed, 08 Feb 2012 21:24:11 +0000</lastBuildDate>
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		<title>By: Auditor Rotation Proposal Just More Spin - Forbes</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-155477</link>
		<dc:creator>Auditor Rotation Proposal Just More Spin - Forbes</dc:creator>
		<pubDate>Wed, 07 Sep 2011 15:14:59 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-155477</guid>
		<description>[...] they&#8217;ve continued to benefit from the chaos, and extra work, by grabbing lucrative contracts with government and staying on board as auditors of some of the most troubled companies such as AIG, Bank of [...]</description>
		<content:encoded><![CDATA[<p>[...] they&#8217;ve continued to benefit from the chaos, and extra work, by grabbing lucrative contracts with government and staying on board as auditors of some of the most troubled companies such as AIG, Bank of [...]</p>
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		<title>By: re: The Auditors &#187; Blog Archive &#187; Will Ernst &#38; Young Ever Be Held Accountable for the Lehman Failure?</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-136352</link>
		<dc:creator>re: The Auditors &#187; Blog Archive &#187; Will Ernst &#38; Young Ever Be Held Accountable for the Lehman Failure?</dc:creator>
		<pubDate>Mon, 01 Nov 2010 03:41:23 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-136352</guid>
		<description>[...] you might say, those contracts were handed out at the peak of the crisis, September 2008.  What could the US Treasury do? There are only four large accounting firms that could possibly do the [...]</description>
		<content:encoded><![CDATA[<p>[...] you might say, those contracts were handed out at the peak of the crisis, September 2008.  What could the US Treasury do? There are only four large accounting firms that could possibly do the [...]</p>
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		<title>By: re: The Auditors &#187; Blog Archive &#187; Systemic Risk! Dominance! Momentum! Auditors In Crisis. Again.</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-134834</link>
		<dc:creator>re: The Auditors &#187; Blog Archive &#187; Systemic Risk! Dominance! Momentum! Auditors In Crisis. Again.</dc:creator>
		<pubDate>Fri, 22 Oct 2010 15:16:59 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-134834</guid>
		<description>[...] feelings about PwC and EY receiving long-term contracts to support the &#8220;internal controls&#8221; over the TAR... program are well known.  Outrageous.  Two years later, the Congressional Oversight Committee has [...]</description>
		<content:encoded><![CDATA[<p>[...] feelings about PwC and EY receiving long-term contracts to support the &#8220;internal controls&#8221; over the TAR&#8230; program are well known.  Outrageous.  Two years later, the Congressional Oversight Committee has [...]</p>
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		<title>By: re: The Auditors &#187; Blog Archive &#187; PwC Global Board: &#8220;Risk And Quality Top Priorities&#8221;</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-6762</link>
		<dc:creator>re: The Auditors &#187; Blog Archive &#187; PwC Global Board: &#8220;Risk And Quality Top Priorities&#8221;</dc:creator>
		<pubDate>Thu, 02 Jul 2009 13:21:00 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-6762</guid>
		<description>[...] Group, their numbers were not looking so good befoe the bonanza that was the financial crisis sent so much work their [...]</description>
		<content:encoded><![CDATA[<p>[...] Group, their numbers were not looking so good befoe the bonanza that was the financial crisis sent so much work their [...]</p>
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		<title>By: re: The Auditors &#187; Blog Archive &#187; How Satyam Supported PwC&#8217;s Schizophrenic Strategy To Reenter The Systems Integration Business</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-5169</link>
		<dc:creator>re: The Auditors &#187; Blog Archive &#187; How Satyam Supported PwC&#8217;s Schizophrenic Strategy To Reenter The Systems Integration Business</dc:creator>
		<pubDate>Tue, 26 May 2009 04:02:29 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-5169</guid>
		<description>[...] The Big 4 audit firms have struggled with independence expectations before.  EY lost the right to take on new audit clients for six months over its relationship with PeopleSoft.  PwC and EY professionals have been convicted of insider trading recently and now Deloitte is suing one of their own Vice Chairman over insider trading. The firms have had issues with alliances and PwC got caught taking kickbacks from alliance partners for government work. They do strange and mysterious work that muddies the waters over whose side they are really on. They have cozy relationships with their travel services providers. They join their audit clients pre-retirement in senior positions. They are asked by the government to work with assets from failed financial institutions they audited. [...]</description>
		<content:encoded><![CDATA[<p>[...] The Big 4 audit firms have struggled with independence expectations before.  EY lost the right to take on new audit clients for six months over its relationship with PeopleSoft.  PwC and EY professionals have been convicted of insider trading recently and now Deloitte is suing one of their own Vice Chairman over insider trading. The firms have had issues with alliances and PwC got caught taking kickbacks from alliance partners for government work. They do strange and mysterious work that muddies the waters over whose side they are really on. They have cozy relationships with their travel services providers. They join their audit clients pre-retirement in senior positions. They are asked by the government to work with assets from failed financial institutions they audited. [...]</p>
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		<title>By: Jim Spence</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-3431</link>
		<dc:creator>Jim Spence</dc:creator>
		<pubDate>Mon, 06 Apr 2009 13:57:50 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-3431</guid>
		<description>I was searching for Blogs about federal government grant scam and found this site.  I am interested in your content and appreciate sites like this.</description>
		<content:encoded><![CDATA[<p>I was searching for Blogs about federal government grant scam and found this site.  I am interested in your content and appreciate sites like this.</p>
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		<title>By: re: The Auditors &#187; Blog Archive &#187; Looking Out For Me, Myself, And I</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-2621</link>
		<dc:creator>re: The Auditors &#187; Blog Archive &#187; Looking Out For Me, Myself, And I</dc:creator>
		<pubDate>Sun, 15 Mar 2009 23:50:54 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-2621</guid>
		<description>[...] to KPMG&#8217;s Professional Standards Office ?   Am I the only one who thinks this is another slap in the face of the taxpayers, the shareholders, the professionals? We need a strong regulator over the [...]</description>
		<content:encoded><![CDATA[<p>[...] to KPMG&#8217;s Professional Standards Office ?   Am I the only one who thinks this is another slap in the face of the taxpayers, the shareholders, the professionals? We need a strong regulator over the [...]</p>
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		<title>By: Anonymous</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-1436</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Thu, 13 Nov 2008 04:57:00 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-1436</guid>
		<description>PwC is run like the mob. &lt;br/&gt;&lt;br/&gt;These guys knew two years ago that the off the book items were going to ba problems. They have been expecting a huge economic downturn for month and have perpared for it.&lt;br/&gt;&lt;br/&gt;I find it funny, having worked for these thugs for years, that they seem to think that Sarbanes-Oxley does not apply to them. &lt;br/&gt;&lt;br/&gt;They have zero internal cotrols on client data, and have 45 terrabytes of data that they keep on file servers across the US and have no clue what that data is.&lt;br/&gt;&lt;br/&gt;Some of the offices are like drunken frat parties, and a number of execs have been taged for dui.&lt;br/&gt;&lt;br/&gt;The drug use has not got out much, but there is a reason that the admin offices are in Tampa Florida. With idots that built a $25 million data center in a catagory one huricane evacuation zone.&lt;br/&gt;&lt;br/&gt;When hurricane Charley came in a few years back it was predicted to hit the Tampa area. The PwC dolts asked for volunteers to ride out the storm in the datacenter, until Hillsborough County goverment told them that the area was a mandatory evacuation zone.&lt;br/&gt;&lt;br/&gt;And these people are to be trusted?</description>
		<content:encoded><![CDATA[<p>PwC is run like the mob. </p>
<p>These guys knew two years ago that the off the book items were going to ba problems. They have been expecting a huge economic downturn for month and have perpared for it.</p>
<p>I find it funny, having worked for these thugs for years, that they seem to think that Sarbanes-Oxley does not apply to them. </p>
<p>They have zero internal cotrols on client data, and have 45 terrabytes of data that they keep on file servers across the US and have no clue what that data is.</p>
<p>Some of the offices are like drunken frat parties, and a number of execs have been taged for dui.</p>
<p>The drug use has not got out much, but there is a reason that the admin offices are in Tampa Florida. With idots that built a $25 million data center in a catagory one huricane evacuation zone.</p>
<p>When hurricane Charley came in a few years back it was predicted to hit the Tampa area. The PwC dolts asked for volunteers to ride out the storm in the datacenter, until Hillsborough County goverment told them that the area was a mandatory evacuation zone.</p>
<p>And these people are to be trusted?</p>
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		<title>By: Francine McKenna</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-1332</link>
		<dc:creator>Francine McKenna</dc:creator>
		<pubDate>Wed, 05 Nov 2008 05:22:00 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-1332</guid>
		<description>@10:42&lt;br/&gt;&lt;br/&gt;No &quot;withholding, &quot; just other stories and personal and professional priorities that have taken precedence for the time being.  In the meantime, several other blogs and mainstream media journalists have agreed with and elaborated on my concerns.&lt;br/&gt;&lt;br/&gt;And so it&#039;s just a matter of time before Congress and other demand more accountability from Paulson and his lieutenants with regard to the vendors and related decisions made during this &quot;crisis.&quot;  I suspect that whatever additional agrguments or support for my contentions I&#039;ll  make will not be sufficient for some. But that&#039;s why I raise the issue in the first place. In the end it will be up to these public servants and the vendors they choose to prove they are up to the job, or they will face additional litigation.  &lt;br/&gt;&lt;br/&gt;And I am sure that given the change we have just seen in the results of todays elction we wil see Congress and others demand more accountability and investigate legitimate concerns.  &lt;br/&gt;&lt;br/&gt;Yes, we did have an election today.  Maybe it wasn&#039;t the result some were hoping for.  But it exceeded my wildest dreams.  So I&#039;m going back to enjoying the moment now.</description>
		<content:encoded><![CDATA[<p>@10:42</p>
<p>No &#8220;withholding, &#8221; just other stories and personal and professional priorities that have taken precedence for the time being.  In the meantime, several other blogs and mainstream media journalists have agreed with and elaborated on my concerns.</p>
<p>And so it&#8217;s just a matter of time before Congress and other demand more accountability from Paulson and his lieutenants with regard to the vendors and related decisions made during this &#8220;crisis.&#8221;  I suspect that whatever additional agrguments or support for my contentions I&#8217;ll  make will not be sufficient for some. But that&#8217;s why I raise the issue in the first place. In the end it will be up to these public servants and the vendors they choose to prove they are up to the job, or they will face additional litigation.  </p>
<p>And I am sure that given the change we have just seen in the results of todays elction we wil see Congress and others demand more accountability and investigate legitimate concerns.  </p>
<p>Yes, we did have an election today.  Maybe it wasn&#8217;t the result some were hoping for.  But it exceeded my wildest dreams.  So I&#8217;m going back to enjoying the moment now.</p>
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		<title>By: Anonymous</title>
		<link>http://retheauditors.com/2008/10/22/treasury-appoints-pwc-and-ey-the-wolves-are-in-the-henhouse/comment-page-1/#comment-1331</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Wed, 05 Nov 2008 04:42:00 +0000</pubDate>
		<guid isPermaLink="false">http://76.12.174.187/?p=827#comment-1331</guid>
		<description>Francine:&lt;br/&gt;&lt;br/&gt;On 10/22,you wrote: &quot;As far as PwC&#039;s experience and capacity to handle what they&#039;ve been handed recently, the facts speak for themselves. They will be provided in a later post.&quot;  Two days later, you reiterated that you &quot;have the facts&quot;. It&#039;s been 2 weeks, and we still wait with baited breath for your &quot;facts&quot;.  You claim to be in possession of these &quot;facts&quot;,yet two weeks have passed and you have not shared them.  &lt;br/&gt;&lt;br/&gt;What are these &quot;facts&quot; concerning PwC&#039;s experience and capactiy? Why are you withholding these &quot;facts&quot; for weeks without posting?</description>
		<content:encoded><![CDATA[<p>Francine:</p>
<p>On 10/22,you wrote: &#8220;As far as PwC&#8217;s experience and capacity to handle what they&#8217;ve been handed recently, the facts speak for themselves. They will be provided in a later post.&#8221;  Two days later, you reiterated that you &#8220;have the facts&#8221;. It&#8217;s been 2 weeks, and we still wait with baited breath for your &#8220;facts&#8221;.  You claim to be in possession of these &#8220;facts&#8221;,yet two weeks have passed and you have not shared them.  </p>
<p>What are these &#8220;facts&#8221; concerning PwC&#8217;s experience and capactiy? Why are you withholding these &#8220;facts&#8221; for weeks without posting?</p>
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