Comments on: Going Concern Audit Opinions: Why So Few Warning Flares?

By: re: The Auditors » Blog Archive » Ernst & Young Lehman Litigation: It’s No Victory If You’re Going To Trial

Fri, 29 Jul 2011 15:06:24 +0000

[...] is this really news? Judge Richard Posner during oral arguments in Fehribach v. Ernst & Young LLP, 2007 WL [...]

By: re: The Auditors » Blog Archive » Auditors Under Pressure In The UK: Or Are They?

Tue, 25 Jan 2011 05:34:45 +0000

[...] auditors admitted they did not issue “going concern” warnings for any of the large banks that were eventually nationalized because they were assured during [...]

By: re: The Auditors » Blog Archive » Big 4 Bombshell: “We Didn’t Fail Banks Because They Were Getting A Bailout”

Thu, 25 Nov 2010 18:34:22 +0000

[...] Lord’s Committee was more interested in questioning the auditors about the issue of “going concern” opinions and, in particular, why there were none for the banks that failed, were bailed out, or were [...]

By: re: The Auditors » Blog Archive » The Auditors And Financial Regulatory Reform: That Dog Don’t Hunt

Thu, 30 Sep 2010 15:32:45 +0000

[...] Rep. Frank thinks some version of the Specter bill repealing Stoneridge will make it back into the legislation. I don’t think the Kaufman team agrees. I told them I was in favor of such a repeal since, under PSLRA, judges are letting negligent and corrupt auditors off the hook far too often. It’s easy to bring a suit against the auditors but very hard for plaintiffs to survive a a motion to dismiss, especially when fraud is alleged. Almost every suit for auditor malpractice or professional negligence settles. Notable exceptions are BDO Seidman’s loss in the Bankest verdict and PwC’s loss in the Ambassador Insurance case. [...]

By: re: The Auditors » Blog Archive » Seeking An Equitable Outcome: NY State Court of Appeals Hears In Pari Delicto Cases Re: The Auditors

Tue, 14 Sep 2010 03:19:08 +0000

[...] action against auditors neutered by the PSLRA and by the Stoneridge decision, and the tendency of some judges to see the auditors as mere bookkeepers there to serve management will somehow act as a deterrent [...]

By: re: The Auditors » Blog Archive » In Pari Delicto: Are Auditors Equally At Fault In The Big Fraud Cases?

Wed, 10 Mar 2010 01:12:34 +0000

[...] treatise that in pari delicto was ushered into modern bankruptcy jurisprudence as a part of the deepening insolvency discussion. I’ve written about deepening insolvency many times as it relates to the auditors [...]

By: Francine McKenna: Mine, Mine All Mine: Can Anyone Catch Lehman Stealing? | Deconstructing The News

Thu, 25 Feb 2010 17:14:39 +0000

[...] their clients did not tell us about the extent of the losses until it was too late. There were no “going concern” warnings for any of the financial institutions that went bankrupt, were taken over, or were [...]

By: Francine McKenna: Mine, Mine All Mine: Can Anyone Catch Lehman Stealing? | Twitmerlin - News, Celebs Gossip, Social Media

Thu, 25 Feb 2010 17:05:42 +0000

By: re: The Auditors » Blog Archive » It’s Mine, Mine All Mine: Can Anyone Catch Lehman Stealing?

Mon, 22 Feb 2010 19:02:01 +0000

By: Tenacious Truman

Tenacious Truman — Thu, 21 Jan 2010 19:37:58 +0000

Ken Biddick @ 30,

Have your read the Supreme Court’s decision in Arthur Young?

– Tenacious T.