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The US Chamber of Commerce put together a very ambitious agenda and stellar group of panelists in Washington DC on March 11, 2009. The conference, subtitled, “Restoring Confidence in the U.S. Capital Markets: From Main Street to Wall Street,” had several newsworthy moments including live coverage of their keynote luncheon speaker, Jamie Dimon, CEO of JP Morgan Chase.
In a press release today, Audit Integrity dares the 300 public traded corporations in the United States that they rate “Very Aggressive,” their worst rating, to use their new tool, RiskProfiler© , free of charge to pre-evaluate their next quarterly SEC filings. The idea is to identify vulnerability to negative events such as fraud, earnings restatements, restructuring, shareholder litigation and bankruptcy. As rated by Audit Integrity, these companies pose a higher systemic risk to stakeholders including investors, employees, creditors, regulators and, as recent events have proven, taxpayers.
There are some very interesting names on their list. Their 300 Worst companies represent the bottom 10% of the 8000+ listed companies, which includes US based and foreign private issuers. As you can imagine, there are plenty of financial services companies on the list, some surprises and, unfortunately, plenty of repeat offenders.
Are you an employer or search professional who wants to reach the loyal, qualified, thoughtful audience that reads re: The Auditors on a daily basis? Did you know 20% of my readers stay on the site more than an hour each visit? Contact me for details about our sponsorship packages. Email fmckenna@mckennapartners.com or call 312-730-4884.
Ron Silberstein and I met on Twitter. Every day I meet more and more interesting people there, both virtually, for now, and in person as I did during my recent trip to Baltimore and Washington DC.
Ron is a Principal of Maddox Ungar Silberstein, PLLC a CPA firm in Michigan. He heads up their SEC and Franchisor audit departments. Ron saw a recent Tweet of mine on GM (there have been many) and responded with a contrary opinion. It made me realize that I should probably defend my opinions regarding a GM bankruptcy in a little more detail.
Last week I was invited to participate in a conference held in Baltimore, MD by the Maryland Association of CPAs…to discuss the role of social media in reviving Maryland’s economy…
I was invited to contribute to the “Technology and My Hobby” series on Vinnie Mirchandani’s New Florence blog. Besides the diversity of your hobbies and passions, the contributors represent so many corners of the world from Australia to Peru to Silicon Valley.
 Francine McKenna (@retheauditors) has more than twenty-five years of experience in consulting and professional services including tenure at two Big 4 firms, both in the US and abroad. Look for my column, "Accounting Watchdog" at Forbes.com and "Accountable" at American Banker. For more information, click "About" at the bottom of this page. Your firm can sponsor this specialized news site. For more information contact Francine McKenna, fmckenna@mckennapartners.com |
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