Comments on: Deloitte – Tolerant And Forgiving of Bad Accountants

By: Francine McKenna: Are You Gonna Make My Day? The Auditors And SEC Enforcement | Deconstructing The News

Sat, 06 Feb 2010 19:37:36 +0000

[...] Mr. Fletchall’s. Is he already back auditing again? Did he ever leave KPMG? The firms are so forgiving of bad [...]

By: Francine McKenna: Are You Gonna Make My Day? The Auditors And SEC Enforcement

Francine McKenna: Are You Gonna Make My Day? The Auditors And SEC Enforcement — Sat, 06 Feb 2010 19:22:12 +0000

[...] Mr. Fletchall’s. Is he already back auditing again? Did he ever leave KPMG? The firms are so forgiving of bad [...]

By: re: The Auditors » Blog Archive » Are You Gonna Make My Day? The Auditors And SEC Enforcement

Sat, 23 Jan 2010 20:33:02 +0000

[...] Mr. Fletchall’s. Is he already back auditing again? Did he ever leave KPMG? The firms are so forgiving of bad [...]

By: re: The Auditors » Blog Archive » Deloitte Wins Major Round Re: Alleged Inside Trader Flanagan

Tue, 05 Jan 2010 20:17:32 +0000

[...] Deloitte seems to have a lack of will to enforce its policies for tenured, powerful members of its partnership or to kick them out of the firm when they’ve been found guilty of sins against the profession and their clients, the shareholders. [...]

By: Chicago Accountant

Chicago Accountant — Wed, 12 Nov 2008 02:23:00 +0000

What makes Flanagan did is different than the other two scenarios. You can make mistakes in an audit. There’s always an acceptable amount of audit risk. I am not making excuses for the two other partners, but it does offer a potential explanation. What Flanagan did was deliberate. I hope there is a real investigation here. The public deserves at least that much.

By: Anonymous

Anonymous — Mon, 10 Nov 2008 22:50:00 +0000

http://dealbreaker.com/2008/11/get-that-damn-light-off-me.php#comments

By: Anonymous

Anonymous — Mon, 10 Nov 2008 15:58:00 +0000

@927…

So in that instance DT complied with the letter of the order but certainly not the spirit.

By: Anonymous

Anonymous — Mon, 10 Nov 2008 15:27:00 +0000

"The disciplinary action suspends him “from being associated with a registered public accounting firm,” which specifically is Deloitte & Touche LLP, the firm that is registered with the PCAOB."

Based on the structure of the US Firms, they probably made him a HR Partner within Deloitte Services LP, which I've heard they've previously done with another partner going through something similar.

By: Francine McKenna

Francine McKenna — Mon, 10 Nov 2008 13:57:00 +0000

@ Independent Accountant

You don’t think that over the years, thirty years , that Mr. Flanagan has been at Deloitte, many of them as a partner, that he has not taken a hundred bullets for the firm? He was responsible for major acounts like Sears, Allstate, ISG, and Walgreens. Maybe Mr. Flanagan will lessen any penalties he might face by spilling lots of beans on Deloitte and his fellow partners. After all, since Deloitte is suing him and not paying him, he now has nothing to lose.

By: Anonymous

Anonymous — Mon, 10 Nov 2008 13:38:00 +0000

Deb should’ve said – “listen, Mr. Flanagan is screwed and Deloitte may very well be too. Time will tell but we will take a bunker mentality.”