Comments on: Suing Audit Firms re: Madoff: The Iguana In The Room

By: Satyam Settles; PwC Left In Lurch - Francine McKenna - Accounting Watchdog - Forbes

Mon, 07 Mar 2011 23:54:35 +0000

[...] Media all over the world started calling the case “India’s Enron”. Some called it “Mini-Madoff”. The fraud was really quite simple and is more like Parmalat – with its false bank account balance confirmations – than the off-balance sheet sophistication of Enron or the pure Ponzi-ness of Madoff. [...]

By: Tweets that mention re: The Auditors » Blog Archive » Suing Audit Firms re: Madoff: The Iguana In The Room -- Topsy.com

Fri, 04 Feb 2011 16:11:24 +0000

[...] This post was mentioned on Twitter by Aaron Task, Francine McKenna. Francine McKenna said: Here's what I've written about the other third-party enablers of Madoff – the auditors http://bit.ly/eOJiXy $JPM [...]

By: re: The Auditors » Blog Archive » 2010 Year in Review: Securities Enforcement, Litigation & Compliance

Sat, 01 Jan 2011 15:21:34 +0000

[...] are still several active Madoff feeder fund cases against auditors [...]

By: Is Any Other Audit Firm Vulnerable Besides Ernst & Young? - Francine McKenna - Accounting Watchdog - Forbes

Thu, 23 Dec 2010 18:06:43 +0000

[...] has the most large, serious claims against them, including significant Madoff feeder fund litigation, as well as four crisis-era international fraud cases, Satyam, Glitnir, Yukos, and Landsbanki. And [...]

By: re: The Auditors » Blog Archive » Auditors Say Jump… New “Appeals” Process Will Impede Timely PCAOB Inspection Reports

Tue, 03 Aug 2010 19:56:52 +0000

[...] PwC has a pending motion to dismiss the Satyam case against them filed in a New York Court. A recent Supreme Court decision regarding “f-cubed” cases may also impact the kinds of plaintiffs who can file claims in US courts when the company, any of its investors and the exchange where transactions occurred reside outside of the US. In addition, the Satyam class action may be curtailed or dismissed altogether based on a claim of “forum non conveniens”. [...]

By: re: The Auditors » Blog Archive » For The Auditors, Nothing’s Over Until It’s Over: Or Is It?

Wed, 24 Mar 2010 05:35:25 +0000

[...] EY and KPMG are named in significant Madoff feeder fund litigation and it looks like those cases are starting to move through the courts. There are billions of [...]

By: re: The Auditors » Blog Archive » Send Lawyers, Guns And Money… The Big 4 And Their Litigation

Tue, 02 Mar 2010 19:39:41 +0000

[...] addition to the myriad of suits relating to the Lehman collapse and their Madoff feeder fund exposure, Ernst and Young recently went through a terrible phase focused on their Bally’s sanctions, the [...]

By: re: The Auditors » Blog Archive » Continuing The Conversation: If Auditors Weren’t There, Why Not?

Tue, 23 Feb 2010 03:22:27 +0000

[...] procedures designed to provide reasonable assurance of detecting illegal acts that would have a direct and material effect on the determination of financial statement [...]

By: re: The Auditors » Blog Archive » They Weren’t There: Auditors And The Financial Crisis

Mon, 07 Dec 2009 23:44:50 +0000

[...] Exactly what is the CEO of Deloitte Touche Tohmatsu, Deloitte’s global, non-auditing, “coordinating” umbrella firm doing calling CEOs about anything important nowadays? Seems like meddling to me. Deloitte, in [...]

By: sean in dc

sean in dc — Mon, 07 Dec 2009 05:43:47 +0000

i dont think i would hold me breath on any of these firms facing any serious consequences.