Why did they do it? The WSJ walks around the question but KPMG may face big fines and, I think, its partners and the PCAOB professional could face criminal charges.
The KPMG/PCAOB scandal is neither the first or last time a Big 4 firm reminded us that there’s nothing special anymore about being a Big 4 firm professional The firms, and their partners, are not capitalist eunuchs, immune from perverse incentives that advocates for free markets say, if big enough, can corrupt anyone.
Next Up: March 8, 2017, Columbia University Business School, New York, New York. I will be participating in a journalist panel moderated by Bill Grueskin, Academic Dean of the Journalism School at Columbia, at the 2nd Annual News and Finance Conference, “News and Financial Markets”.
I’ve written at Forbes about the event, including some quotes from Sherron Watkins that made news. Links to a replay of the webcast and a live-blog of the event are included here.
My MarketWatch colleague Andrea Riquier took a field trip to Indiana earlier this year on a tip about a group that helps people struggling to get their act together and prepare for home ownership. It’s a nice thing to see, given all the ongoing struggles many still have with jobs, finances and the challenges of this economy, especially in the heartland.
Mary Jo White became the 31st Chair of the Securities and Exchange Commission on April 10, 2013. Last week she announced she would be leaving the job when President Obama leaves office. Here are some links to recent articles and a few choice ones from the past.
Here are my remarks from the panel discussion on non-GAAP metrics I participated in onNovember 7, 2016 at NYU Stern.
The TBW v. PwC trial gave the public quite a few interesting disclosures about the audit industry and PwC, including some some pointing to how the firms’ finances, in this case PwC, work.
Here’s a brief look at the TBW Plan Trustee v. PwC trial, what led to it and what’s next.
Stay tuned as the non-GAAP use comment letters to the companies who didn’t take the hint on their own or who took some prodding in written from to come around, start making it to EDGAR. Should make for some interesting fall reading.