• Author Archive

    @MarketWatch: IEX Becomes an Exchange

    By • Jun 26th, 2016

    Word got out early that the SEC would approve IEX’s application to become a stock exchange on Friday the 17th. As usual, the leak traveled to the big media outlets earlier that week and then the rest of us waited for announcement from the SEC all day.



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

    By • Jun 17th, 2016

    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.



    Appeals Court says SAIC must face CityTime fraud case

    By • Apr 5th, 2016

    An Appeals Court said there’s enough to proceed on allegations SAIC recklessly disregarded its obligation to disclose potential liability for the CityTime fraud in its March 2011 10K.



    Update: Writing About Equity Market Structure at MarketWatch

    By • Feb 16th, 2016

    One area I am covering now at MarketWatch is market structure, specifically the equity markets. Reforming equity markets is a big ongoing issue, especially after the May 2010 flash crash. Here’s a summary of the articles, updated for a new one on February 3, I’ve written since May on the subject and some background on some of the many controversies.



    Three Accounting-Related Stories At MarketWatch

    By • Feb 15th, 2016

    At MarketWatch I am fortunate that I am not expected to write a story every day, although that’s fine if something comes up like an SEC enforcement order or a spectacular corporate scandal.  I am encouraged, instead, to come up with original analysis of important stories in financial regulation and legislation. We want to add […]



    The SEC vs. The PCAOB and Jim Doty: Impasse or Détente?

    By • Jan 18th, 2016

    Jim Doty’s term as chairman of the PCAOB, the audit regulator, expired in October. All summer since I arrived in Washington D.C., leading up to that date and since, there’s been speculation about whether or not SEC Chairwoman Mary Jo White would reappoint him to the job.



    Best Case Yet For Publishing Audit Partner Names: Grant Thornton’s Koeppel

    By • Dec 14th, 2015

    The PCAOB will vote on final rule based on its proposal on Tuesday Dec 15. If audit partner names were published in the audit report, or anywhere, the public, audit committees, investors and journalists could stop lousy auditors in their tracks. Melissa Koeppel of Grant Thornton is the best case yet for making audit partner names and their engagement history, disciplinary history, and litigation history public.



    The Case of Valeant; Not Over By a Long Shot

    By • Nov 2nd, 2015

    Now that Valeant has cut off the gangrenous Philidor arm, we may never know the true extent of any accounting manipulation or fraud. And then again it may all come out when the rest of the organization is scrutinized. I’d say be prepared for big inventory writeoffs, or maybe even a restatement.



    Failure to Earn: What Scattershot Enforcement of Sarbanes-Oxley Clawbacks Tells Us About Paybacks Under Dodd-Frank

    By • Oct 20th, 2015

    I wrote at MarketWatch about the SEC’s proposed Dodd-Frank clawback rule.



    McKenna Interviewed On KPMG And FIFA By The Bottom Line Canada

    By • Oct 19th, 2015

    I was interviewed by The Bottom Line magazine in Canada back in June on KPMG’s role as auditor of FIFA.