Comments on: Auditor Independence: Will “Crisis” Cause Compromise? http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/ The Business of the Big 4 Audit Firms Thu, 24 May 2012 01:48:07 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: re: The Auditors » Blog Archive » KPMG May Answer For GE Tax Work http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-155738 re: The Auditors » Blog Archive » KPMG May Answer For GE Tax Work Thu, 22 Sep 2011 12:58:10 +0000 http://retheauditors.com/?p=2756#comment-155738 [...] started out tough on tax. The rules regarding prohibited activities by the auditor, intended to preserve their independence, scared the living daylights out of the largest firms. It appeared initially that the SEC would [...] [...] started out tough on tax. The rules regarding prohibited activities by the auditor, intended to preserve their independence, scared the living daylights out of the largest firms. It appeared initially that the SEC would [...]

]]> By: re: The Auditors » Blog Archive » Not To Be Twistin’ Hay… Auditors Mucking It Up In Ireland http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-155017 re: The Auditors » Blog Archive » Not To Be Twistin’ Hay… Auditors Mucking It Up In Ireland Mon, 25 Jul 2011 18:33:33 +0000 http://retheauditors.com/?p=2756#comment-155017 [...] and the UK lack the strict Sarbanes-Oxley type prohibitions against auditors serving as highly compensated consultants for their audit clients. The Sarbanes-Oxley Act includes an “Enron” rule. This provision prohibits the Arthur Andersen [...] [...] and the UK lack the strict Sarbanes-Oxley type prohibitions against auditors serving as highly compensated consultants for their audit clients. The Sarbanes-Oxley Act includes an “Enron” rule. This provision prohibits the Arthur Andersen [...]

]]> By: GE Auditor KPMG: Supporting Their Tax Strategy For 102 Years - Francine McKenna - Accounting Watchdog - Forbes http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-154328 GE Auditor KPMG: Supporting Their Tax Strategy For 102 Years - Francine McKenna - Accounting Watchdog - Forbes Tue, 29 Mar 2011 14:43:57 +0000 http://retheauditors.com/?p=2756#comment-154328 [...] started out tough on tax. The rules regarding prohibited activities by the auditor, intended to preserve their independence, scared the living daylights out of the largest firms. It appeared initially that the SEC would [...] [...] started out tough on tax. The rules regarding prohibited activities by the auditor, intended to preserve their independence, scared the living daylights out of the largest firms. It appeared initially that the SEC would [...]

]]> By: re: The Auditors » Blog Archive » Whistleblowers Are Not Pretty http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-153256 re: The Auditors » Blog Archive » Whistleblowers Are Not Pretty Thu, 03 Feb 2011 17:43:13 +0000 http://retheauditors.com/?p=2756#comment-153256 [...] Unfortunately, as my friend Chuck Eldridge from Korn Ferry told me back in 2003, very few internal auditors at the time were prepared to be “outside guys” instead of inside guys. In fact, it should be suspect if the internal auditor is too cozy with senior executives. We’ve seen internal audit come back again full circle to having to justify their existence via consulting and cost-savings initiatives. [...] [...] Unfortunately, as my friend Chuck Eldridge from Korn Ferry told me back in 2003, very few internal auditors at the time were prepared to be “outside guys” instead of inside guys. In fact, it should be suspect if the internal auditor is too cozy with senior executives. We’ve seen internal audit come back again full circle to having to justify their existence via consulting and cost-savings initiatives. [...]

]]> By: re: The Auditors » Blog Archive » Sarbanes-Oxley Doublespeak http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-148958 re: The Auditors » Blog Archive » Sarbanes-Oxley Doublespeak Wed, 05 Jan 2011 16:07:51 +0000 http://retheauditors.com/?p=2756#comment-148958 [...] Restricted the scope of services auditors could provide to audit [...] [...] Restricted the scope of services auditors could provide to audit [...]

]]> By: Francine McKenna: Liberté, Egalité, Fraternité: Big Lehman Brothers Troubles For Ernst & Young | Blog All Over The World http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-94230 Francine McKenna: Liberté, Egalité, Fraternité: Big Lehman Brothers Troubles For Ernst & Young | Blog All Over The World Fri, 19 Mar 2010 17:51:05 +0000 http://retheauditors.com/?p=2756#comment-94230 [...] by supporting this investigation, EY was essentially doing internal audit work, a prohibited service under Sarbanes-Oxley for independence reasons. It's shocking to me that the EY audit partners did not at least turn over [...] [...] by supporting this investigation, EY was essentially doing internal audit work, a prohibited service under Sarbanes-Oxley for independence reasons. It's shocking to me that the EY audit partners did not at least turn over [...]

]]> By: re: The Auditors » Blog Archive » Liberté, Egalité, Fraternité: Big Lehman Brothers Troubles For Ernst & Young http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-93488 re: The Auditors » Blog Archive » Liberté, Egalité, Fraternité: Big Lehman Brothers Troubles For Ernst & Young Mon, 15 Mar 2010 14:33:58 +0000 http://retheauditors.com/?p=2756#comment-93488 [...] by supporting this investigation, EY was essentially doing internal audit work, a prohibited service under Sarbanes-Oxley for independence reasons.  It’s shocking to me that the EY audit partners did not at least [...] [...] by supporting this investigation, EY was essentially doing internal audit work, a prohibited service under Sarbanes-Oxley for independence reasons.  It’s shocking to me that the EY audit partners did not at least [...]

]]> By: re: The Auditors » Blog Archive » Sarbanes-Oxley Insights: An Interview With Bob Hirth of Protiviti http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-85239 re: The Auditors » Blog Archive » Sarbanes-Oxley Insights: An Interview With Bob Hirth of Protiviti Fri, 29 Jan 2010 14:09:23 +0000 http://retheauditors.com/?p=2756#comment-85239 [...] as internal auditors for US listed firms will be repealed instead following trend in UK such as in Rentokil? The client himself asked for audit firms to propose package deals, ignoring issues that arose from [...] [...] as internal auditors for US listed firms will be repealed instead following trend in UK such as in Rentokil? The client himself asked for audit firms to propose package deals, ignoring issues that arose from [...]

]]> By: re: The Auditors » Blog Archive » @Going Concern “Satyam’s Internal Auditor: All Roar, No Bite” http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-70052 re: The Auditors » Blog Archive » @Going Concern “Satyam’s Internal Auditor: All Roar, No Bite” Sun, 27 Dec 2009 17:42:31 +0000 http://retheauditors.com/?p=2756#comment-70052 [...] job. While some companies are very supportive of the function, many look at internal audit as a necessary evil and a cost center. In the end, even with aprofessional code of ethics and a reporting relationship directly with the [...] [...] job. While some companies are very supportive of the function, many look at internal audit as a necessary evil and a cost center. In the end, even with aprofessional code of ethics and a reporting relationship directly with the [...]

]]> By: Anonymous Auditor http://retheauditors.com/2009/08/13/auditor-independence-will-crisis-cause-compromise/comment-page-1/#comment-14802 Anonymous Auditor Sun, 16 Aug 2009 16:49:31 +0000 http://retheauditors.com/?p=2756#comment-14802 @AN2: Um, is your theory that it's impossible to violate your professional ethics if you belong to a profession that has none? I have met one investment banker whom I considered an extremely ethical individual who put his client's interests above his own interest in getting a deal done at all costs. One. @AN2:

Um, is your theory that it’s impossible to violate your professional ethics if you belong to a profession that has none?

I have met one investment banker whom I considered an extremely ethical individual who put his client’s interests above his own interest in getting a deal done at all costs. One.

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