http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/ The Business of the Big 4 Audit Firms Wed, 08 Feb 2012 21:24:11 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-155227 re: The Auditors » Blog Archive » Ernst & Young Lehman Litigation: It’s No Victory If You’re Going To Trial Mon, 15 Aug 2011 16:30:30 +0000 http://retheauditors.com/?p=3906#comment-155227 [...] the timing based on the SEC’s handling of the Bally’s sanctions. Even with a slam dunk case, the SEC waited six years before they settled with EY.  The eventual sanctions against six Ernst & Young partners for [...] [...] the timing based on the SEC’s handling of the Bally’s sanctions. Even with a slam dunk case, the SEC waited six years before they settled with EY.  The eventual sanctions against six Ernst & Young partners for [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-154534 re: The Auditors » Blog Archive » New York Court of Appeals Stands By Corporate Man: In Pari Delicto Prevails Mon, 25 Apr 2011 21:58:41 +0000 http://retheauditors.com/?p=3906#comment-154534 [...] but civil penalties and sanctions will be meted out to culpable individuals only and only after many years of investigation when the story and the deterrent effect have been significantly di...Civil penalties against audit firms as a whole will be severely rationed.  The private right of [...] [...] but civil penalties and sanctions will be meted out to culpable individuals only and only after many years of investigation when the story and the deterrent effect have been significantly di…Civil penalties against audit firms as a whole will be severely rationed.  The private right of [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-154434 re: The Auditors » Blog Archive » Not Over Until It’s Over: Price Waterhouse India Settles Satyam Mon, 11 Apr 2011 04:56:22 +0000 http://retheauditors.com/?p=3906#comment-154434 [...] audit firm. In my opinion, if a combined fine of $7.5 million is a record, that only proves how lackluster prior SEC enforcement against foreign registered audit firms has been. It also shows how crippled the PCAOB has been to [...] [...] audit firm. In my opinion, if a combined fine of $7.5 million is a record, that only proves how lackluster prior SEC enforcement against foreign registered audit firms has been. It also shows how crippled the PCAOB has been to [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-154160 Auditors Abandon Investors On Liability Limits - Francine McKenna - Accounting Watchdog - Forbes Thu, 10 Mar 2011 00:18:04 +0000 http://retheauditors.com/?p=3906#comment-154160 [...] being the only effective deterrent for audit failure given the lack of effective regulation and minimal enforcement - gives the firms carte blanche to continue conducting business with the failure rate we saw in [...] [...] being the only effective deterrent for audit failure given the lack of effective regulation and minimal enforcement - gives the firms carte blanche to continue conducting business with the failure rate we saw in [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-154066 re: The Auditors » Blog Archive » Update: Auditors and Consulting: Claims Of No Conflict Strain Credibility Sun, 06 Mar 2011 03:47:20 +0000 http://retheauditors.com/?p=3906#comment-154066 [...] list of advisory services that can be performed by auditors of companies subject to Sarbanes-Oxley, the level of enforcement of these independence prohibitions is practically nil. Not only are the regulators loathe to single out a firm for large [...] [...] list of advisory services that can be performed by auditors of companies subject to Sarbanes-Oxley, the level of enforcement of these independence prohibitions is practically nil. Not only are the regulators loathe to single out a firm for large [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-152069 SEC Stacks The Deck Against Investors At PCAOB - Francine McKenna - Accounting Watchdog - Forbes Tue, 25 Jan 2011 21:12:26 +0000 http://retheauditors.com/?p=3906#comment-152069 [...] firms clearly have a sympathetic ear at Mary Schapiro’s SEC. Will this new stacked Board withdraw Acting Chairman Goelzer’s request to Congress to amend [...] [...] firms clearly have a sympathetic ear at Mary Schapiro’s SEC. Will this new stacked Board withdraw Acting Chairman Goelzer’s request to Congress to amend [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-150646 re: The Auditors » Blog Archive » Dear PCAOB Board: Your Job Is To Serve And Protect Investors Mon, 17 Jan 2011 13:32:07 +0000 http://retheauditors.com/?p=3906#comment-150646 [...] amount of time that’s passed since the audits, almost three years, allowed PwC to pull out the tried and true, “That was in the past, everything is fine now,” [...] [...] amount of time that’s passed since the audits, almost three years, allowed PwC to pull out the tried and true, “That was in the past, everything is fine now,” [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-147530 McKenna: Ten things you need to know about ‘Big Four’ audit firms | Ian Fraser Tue, 28 Dec 2010 15:34:54 +0000 http://retheauditors.com/?p=3906#comment-147530 [...] Most accounting industry professionals certainly don’t see lawyers as part of the solution. The SEC’s Enforcement Division is comprised principally of attorneys who formerly represented corporations. The audit firms are [...] [...] Most accounting industry professionals certainly don’t see lawyers as part of the solution. The SEC’s Enforcement Division is comprised principally of attorneys who formerly represented corporations. The audit firms are [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-143176 Forget Everyone Else: Why Aren’t Auditors Answering For Financial Crisis? - Francine McKenna - Accounting Watchdog - Forbes Fri, 10 Dec 2010 04:54:31 +0000 http://retheauditors.com/?p=3906#comment-143176 [...] has now disturbed the peace of a nascent “recovery.”  Why did it take so long for the media, the regulators and the legislators to acknowledge what some of us have known for a [...] [...] has now disturbed the peace of a nascent “recovery.”  Why did it take so long for the media, the regulators and the legislators to acknowledge what some of us have known for a [...]

]]> http://retheauditors.com/2010/01/14/are-you-gonna-make-my-day-the-auditors-and-sec-enforcement/comment-page-1/#comment-139849 re: The Auditors » Blog Archive » The Big 4 Pro-IFRS Campaign Has Flaws Sun, 21 Nov 2010 13:35:28 +0000 http://retheauditors.com/?p=3906#comment-139849 [...] getting really tough to keep track of all the partners under SEC sanctions. Hell, even famous Floyd Norris and his undercover buddy at the SEC couldn’t do it.  It’s easier if you keep the guys in “time-out” on the payroll [...] [...] getting really tough to keep track of all the partners under SEC sanctions. Hell, even famous Floyd Norris and his undercover buddy at the SEC couldn’t do it.  It’s easier if you keep the guys in “time-out” on the payroll [...]

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