Archive for June, 2009

PwC Global Board: “Risk And Quality Top Priorities”

By Francine • Jun 30th, 2009

Risk and Quality. Territory- and client-focused reviews. Tone at the top. PwC Experience. Network of the Future. Accountability. Regulatory environment. Implications of recent rulings and settlements.

Quite a full plate for this Global Board. And that’s only the first paragraph after the introduction. Granted, this email is for general distribution to all partners worldwide and probably pretty sanitized, given the possibility it could be inadvertently distributed outside the firm. (Tee hee.)

But the message it clear. A hard rain has already started to ruin PwC’s parade.

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Satyam, SocMed, BDO International, and Sunshine

By Francine • Jun 26th, 2009

It’s been a very hot few weeks here in Chicago. After last weekend’s thunderstorms, we’ve had temperatures between 85-90 or so all week. (That’s 30-32 C for you metric folks.)

Needless to say, Rosie Rott and I have been drinking a lot of liquids. I feel like a broken record telling everyone at an event last night, “It’s about time we had hot weather. Wasn’t that a lousy winter we had, worst ever? I blew five tires from potholes. Oh, how I wished I was in Mexico. Better sunshine than snow. I just turned off my heat on Memorial Day weekend…”

Such is the nature of chit-chat.

It’s been a busy week for me, in spite of the fact some of you may complain about the lack of a new blockbuster post.

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Accountants And Social Media Dream Panel @MDBIZEXPO

By Francine • Jun 21st, 2009

I had the very good fortune of being invited to participate in a dream panel at the Maryland Association of CPAs Business Expo last week. The panel was moderated by Bill Sullivan of the MACPAs and included Edith Orenstein of FEI, Will Burns of the Maryland Chamber of Commerce, Alexandra DeFelice of the Journal of Accountancy, and Rick Telberg of CPA Trendlines.

A lot has changed, except for the Big 4, since I wrote this post.

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BDO International Dodges A Bullet, But Threat Still Remains…

By Francine • Jun 19th, 2009

Update: June 18, 2009 The jury found that BDO International bore no responsibility for the $170 million compensatory damages verdict against BDO Seidman followed Tuesday’s directed verdict for BDO International, which cleared the international of liability for $351 million in punitive damages against BDO Seidman.
…But the fact still remains: BDO Seidman is currently responsible for both the $170 million and the the $352 million dollar punitive damages unless reversed on appeal. What to do about BDO Seidman and the US firm, especially if the judgement is upheld and the US firm can’t pay?

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Careers in Uncertainty – McKenna Speaks At Maryland CPAs Business Expo

By Francine • Jun 19th, 2009

I had the pleasure of participating in the Maryland Association of CPAs Business Expo this past week. In addition to moderating a panel on regulatory reform and participating in another on accountants use of socal media tools, I gave a presentation:

Managing Your Career: Turning Uncertainty Into Opportunity

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Compliance Week Day 2 – More Than Enough To Keep Me Busy

By Francine • Jun 12th, 2009

Forgive the delay in posting this second day summary. There was no lack of content or new friends. I will reiterate what I have already said prior and what was said on other blogs like Compliance Building, Securities Docket, IT Compliance, and Matt Kelly’s Compliance Week spot – There’s nothing like meeting people in person to create a new and stronger bond of cooperation and sharing. And that is exactly how I feel about Doug, Bruce, Alex, and Matt. I see great collaboration in the future, all for your benefit.

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BDO International: “Manage and Control” Means Slam Dunk For BES

By Francine • Jun 6th, 2009

After a week’s delay, the Banco Espirito Santo (aka ES Bankest ) vs. BDO International trial finally started in Miami on June 2. I was approached by Courtroom View Network and given access to the full trial tapes and select clips in exchange for this mention.

I’ve been following Stephen Thomas of Thomas Alexander & Forrester in the BDO International case and in his new initiative regarding KPMG International and New Century. He’s on a roll. And I personally believe he’s got a slam dunk case against BDO International.

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Compliance Week 2009 Day 1: What A Difference A Day Makes

By Francine • Jun 4th, 2009

It was a great first day yesterday. I’ve been telling Matt Kelly, Editor of Compliance Week, that this year is better than ever. One profound change is the Twitter presence this year. Last year I was the only one Twittering, Matt did not yet have blogs on the Compliance Week site, and fewer people knew or cared what I was doing or why. This year, I share the front row at every presentation (and the backchannel) with several bloggers/Twitterers.

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