• Author Archive

    Speaking Engagements/Conferences

    By • Sep 17th, 2018

    Lots planned for the fall. I just added a link to my segment Monday September 17, 2018 in commemoration of the 10th anniversary of the Lehman Brothers bankruptcy on September 15, 2008, when I was a guest on the NPR news show Here and Now to talk with host Peter O’Dowd about the tricky financial instruments used during the financial crisis and if they’re still a risk. #repo105 #cds #cdo #mbs #rtm The show airs at 2pm EST on DC’s WAMU 88.5 FM and in Chicago on WBEZ 91.5 between 1-3 CST. Later another visit to Ohio State and a return to DC by the Baylor MAcc program. Also on the agenda CalCPAs and a wonderful gig on October 9, 2018 for Grant’s Interest Rate Observer 35th Anniversary Conference in New York at the Plaza Hotel.



    McKenna at Grant’s Interest Rate Observer 35th Anniversary Conference

    By • Sep 2nd, 2018

    On October 9, 2018 I’ll be speaking at the Grant’s Interest Rate Observer 35th Anniversary Conference in New York at the Plaza Hotel. After many years of good relations and a recent successful podcast performance, Jim Grant has asked me to present at his conference this fall. The podcast, where I talk about non-GAAP metrics, the state of […]



    Gee! No, GE!

    By • Sep 2nd, 2018

    A wrap-up of writing about GE since 2011.



    New research: Accounting students are not generally psychopaths but some slip through

    By • Sep 2nd, 2018

    New academic research says accounting students are less likely to be psychopaths who will commit fraud but surprising admissions by some suggest a reason to be wary.



    Update: KPMG: The Indictments

    By • Aug 27th, 2018

    The mystery outside consulting firm that helped KPMG analyze the data Brian Sweet andCynthia Holder allegedly brought over from the PCAOB is no longer a mystery. It’s Palantir. It is still a mystery why any firm like KPMG, who touts a new KPMG MAcc focused on data analytics, would have to hire an outside firm to crunch data. That’s unless KPMG is not the only firm that used this outside consultant, and the effort to improve inspection results was a joint effort of more than one firm. I’d love to hear more about why KPMG needed Palantir. Leave a comment here, one I can leave unposted, if you wish to communicate confidentially or DM me on Twitter @retheauditors for Signal encrypted confidential messaging instructions.



    New Stories about the KPMG-PCAOB Scandal

    By • Aug 27th, 2018

    “Innovation demands risk-taking… which, in turn, entails redefining failure, stripping away its power to inhibit.” Chairman and CEO of KPMG Lynne Doughtie



    Mick Mulvaney, the CFPB and a “thing”

    By • Apr 29th, 2018

     Warning:  Coarse language, because we may get a lot of snow in Chicago but we’re no snowflakes. Last week I went to an American Bankers Association Conference for bank government relations executives. I wrote a story about some things that Mick Mulvaney, the interim director of the Consumer Financial Protection Bureau (and also a cabinet member […]



    Another Update on the Case of FDIC v PricewaterhouseCoopers re: Colonial Bank

    By • Apr 8th, 2018

    On February 28 the US Justice Department fined Deloitte & Touche LLP $149.5 million for alleged fraud against the government related to its role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. Also: The damages phase of the FDIC v. PwC case regarding Colonial Bank is set to begin in Washington DC on March 20.



    McKenna at The Frunchroom

    By • Oct 2nd, 2017

    She’s a native South Sider, and she definitely traveled the longest distance to be at the show at Beverly Arts Center. Guess who?



    Revenue Recognition is Coming: Part 2

    By • Sep 7th, 2017

    I’ve been coaching my colleagues on how to spot updates and interesting anecdotes about revenue recognition during the second quarter earnings season. Now we are catching up on the Qs filed and comparing disclosures after concentrating on what was said in earnings releases and calls.