Author Archive

McKenna At Georgia Southern Fraud and Forensic Accounting Conference

By Francine • May 24th, 2012

I spoke at the Georgia Southern University’s Center for Forensic Studies in Accounting and Business Sixth Annual Fraud and Forensic Accounting Conference at the Hilton Desoto, Savannah on May 15-17, 2012. My topic was “Auditors as ‘Whistleblowers’: The Auditors’ Responsibility to Report Fraud and Illegal Acts.”

Share


When Is A Hedge Not A Hedge? The Accounting For JP Morgan’s Bet

By Francine • May 18th, 2012

Yesterday’s column at American Banker digs into the accounting for JP Morgan’s reported “hedge”. I was shocked – OK, not really – that no main stream media outlet had explained the stunning announcement made by Jamie Dimon last Thursday.

Share


Pay Cut For JPM’s Jamie Dimon? There’s Still Time To Vote

By Francine • May 15th, 2012

My column on the subject this morning at American Banker is getting quite a bit of play. Dimon’s mea culpa on the loss was timed to avoid lying, again, to a room full of people – JP Morgan’s Annual Meeting is tomorrow May 15 – about how bad 2nd quarter results will end up.

Share


Now Available: A New e-Book On The MF Global Mystery

By Francine • May 13th, 2012

Available Now: re: The Auditors: The Mystery of The MF Global Failure

This book is the fourth in a series of compilations from re: The Auditors. This volume focuses on the failure of MF Global on October 31, 2011. MF Global was a broker-dealer and futures commission merchant (FCM).

Share


Why Is The SEC Pursuing Deloitte Shanghai? Looks Like It’s Personal

By Francine • May 10th, 2012

The Securities and Exchange Commission is rattling a dull sabre again towards Shanghai-based Deloitte Touche Tohmatsu CPA Ltd. for its refusal to provide the agency with audit work papers related to another China-based company under investigation for potential accounting fraud against U.S. investors. It looks to me like it’s personal rather than productive.

Share


First Forbes Magazine Feature

By Francine • Apr 23rd, 2012

My first feature article for Forbes magazine is out on the newsstands today.

Share


Aubrey McClendon Pigs Out: Chesapeake Energy’s Hidden Loans:

By Francine • Apr 21st, 2012

Chesapeake Energy’s auditor is PricewaterhouseCoopers. The auditor is paid lass than $3 million to prepare an opinion on this challenging company. Sometimes you can be paid too little to be sufficiently skeptical…

Share


I’m In Congress! Foreclosure Review Work Cited By Congressman

By Francine • Apr 13th, 2012

A column I wrote for American Banker on March 5, 2012, “What Little We Know About Foreclosure Reviews Is Troubling”, was mentioned during the recent House Financial Services Subcommittee hearing on issues facing the accounting and auditing industry.

Share


New York’s Carolyn Maloney More Focused On Politics Than Investors

By Francine • Apr 12th, 2012

With Democrats like Representative Carolyn Maloney of New York, who needs the Republicans? When special interests pursue self-interested legislation or seek to block legislation that affects their interests Maloney is ready to wave the jobs and economic growth flag for her campaign contributors rather than looking out for investors.

Share


Groupon: You Must Have Fallen From The Sky

By Francine • Apr 7th, 2012

I expect the auditors to earn their fees by looking out for investors. But maybe that’s just pie in the sky.

Share