|
||||||
 | ||||||
| ||||||
I’d be exaggerating if I told you the Lehman bankruptcy examiner’s report, and its scathing indictment of Ernst & Young’s role in the biggest failure on Wall Street, answered my prayers. On the contrary. The more successful a fraud case is against Lehman’s executives, the less likely EY or any of its partners will suffer any consequences for their role in the Lehman fraud.
The US Treasury recently affirmed reappointment of KPMG as Citi’s auditor for the 41st consecutive year. Maybe Treasury married KPMG all over again because they’re cheap compared to what Goldman and AIG are paying PwC. Or maybe Treasury feels like the mother who puts up with a gold digging daughter-in-law because said daughter-in-law saw mom kissing the tennis pro and mom knows her son has slept with the baby-sitter…
I’m now writing for Forbes twice week, Tuesday and Thursday, under the title, Accounting Watchdog. My first two columns were published this past week.
This week I’m attending a class at the Poynter Institute, Critical Tools For The Non-Traditional Journalist. It’s a great privilege to be here and I’m meeting tons of folks from all walks of life. We are tweeting under the hashtag #NonTradJs.
Nick Coleman was born and raised in St. Paul, Minnesota. Nick, 59, was a reporter and [...]
The New York Court of Appeals decided on October 21, 2010, by a vote of 4-3, to “decline to alter our precedent relating to in pari delicto, and imputation and the adverse interest exception, as we would have to do to bring about the expansion of third-party liability sought by plaintiffs here.”
The decision is flawed, misguided and strongly biased towards corporate interests rather than shareholder and investor interests.
Wow. This was a lovely surprise.
‘A girl with a Mac Book’
Francine McKenna doesn’t call herself a journalist, but her blog seems to belie that claim. Since 2006, McKenna has been the mastermind and managing editor behind re: The Auditors, a blog that covers the regulation and globalization of Big Four audit firms, and has garnered [...]
Keeping track of litigation against the audit firms is probably one of the most difficult and most time consuming aspects of what I do. But it has definitely been one of the most intellectually satisfying activities. I never anticipated this when I started this site.
In addition to the information reproduced below, I have recently found [...]
The Loeb Finalist experience inspired me to look for opportunities to learn more about journalism and digital media from the pros. I’ve been applying for fellowships and programs that can help me find more people doing what I do and more support for future plans.
One place that’s well known to professional journalists is the Poynter [...]
Politicians are again trotting out the same old ideas and suggestions for audit industry reform. Does the UK also pop in new politicians every four years as we do here in the United States such that we get a fresh crop of potato heads every term, fresh from the field, with nary a clue about the history, legacy, machinations and pervasive influence of the largest global accounting firms?
Tracy L. Coenen, CPA, CFF is a forensic accountant and fraud investigator with Sequence Inc. in Milwaukee and Chicago. She has conducted hundreds of high-stakes investigations involving financial statement fraud, securities fraud, investment fraud, bankruptcy and receivership, and criminal defense. Tracy is the author of Expert Fraud Investigation: A Step-by-Step Guide and Essentials of Corporate [...]
 Francine McKenna (@retheauditors) has more than twenty-five years of experience in consulting and professional services including tenure at two Big 4 firms, both in the US and abroad. Look for my column, "Accounting Watchdog" at Forbes.com and "Accountable" at American Banker. For more information, click "About" at the bottom of this page. Your firm can sponsor this specialized news site. For more information contact Francine McKenna, fmckenna@mckennapartners.com |
|
