It’s important for the integrity of the capital markets to assign individual responsibility for audit failures. We need to see the key partners’ names and their career histories because recidivist partners are hiding behind the firms which are very good at dodging general liability.
I’m writing for the University of Chicago Booth School of Business Capital Ideas magazine and blog now, too. The purpose is to highlight faculty research.
David Levitt of the Society of Professional Journalists Region 1 in New Jersey
asked me back in April to answer a few questions for a conference panel I, unfortunately, could not attend live.
Taxpayers are getting killed. I think municipal bondholders are next.
This is the fourth big insider trading case in the least few years against a senior tenured partner that betrayed the public’s trust. In none of the cases did the firm’s “extensive” and “comprehensive” independence compliance programs spot the behavior or the illegal actions. Stay tuned. There will be much more to this story, I guarantee.
I put two new columns up at Forbes recently that talk about JPMorgan, PwC, Senator Levin’s “Whale” hearings, and all the other stuff JPMorgan and Jamie Dimon are really worried about.
I’m in San Diego at the Accounting Program Leaders Group/Federation of Schools of Accountancy annual seminar. I spoke Sunday on the profession and its professionals.
Gorkana covers the latest industry news for the PR and corporate communications community. I spoke to Social Media Executive Ebunola Adenipekun last fall about the evolution of this blog, its relationship to its readers and my interactions with the public relations, corporate communications community.
The Wall Street Journal has been accepting sponsored content, in an exclusive contract with Deloitte, for a while for its CFO Journal, CIO Journal and now a new publication, Risk & Compliance Journal. You may not have noticed. It’s getting harder and harder to tell the difference between news and advertising.
What’s different about this Chinese fraud lawsuit is that it names a US Big Four firm as a defendant. Not only has that not been done before but the US firms have traditionally been able to insulate themselves fairly successfully from frauds that happen abroad. It’s that global network “thang”.