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Getco’s deal for Knight Capital was a good-old reverse merger, just like the chop suey the Chinese have been using to perpetrate frauds right under the SEC’s nose. Please read to the bottom. I don’t even have to make this stuff up anymore.
Ernst & Young gets a little bit of good news about Lehman liabilities but… Is it just me or are the auditor defense lawyers losing their touch?
How do you connect with your target audience? Game-changing technologies influence how you communicate with the young (and the not-so-young) social media-savvy crowd.
I asked Alys Cohen of the National Consumer Law Center what I can say when people ask me what to do about their foreclosure or mortgage modification nightmare.
Deutsche Bank may have avoided a bailout by the German government but borrowed billions from the US Federal Reserve and various programs during this period. So much for avoiding a bailout by pretending there was no risk of catastrophic losses during the financial crisis.
I’ve been watching the developments for a while now between the global audit firms, their clients, the regulators on both sides, and investors – especially the shorts – who have been raising the issues of Chinese frauds. I’ve written quite a bit about these issue. If you’re playing catch up, this list of posts is a good place to start.
Zynga and Facebook play out their drama in public, much to the detriment of investors who can’t leave the party early before glasses start breaking.
When HP announced its intention to acquire Autonomy, the British data analysis firm now mired in accusations of serious fraud, Deloitte probably shed some enormous tears of joy. Deloitte can now openly replace those Autonomy audit fees with guilt-free consulting and lucrative alliance deals.
I was at New York University’s Vincent C. Ross Institute of Accounting Research to speak on a panel that included Paul Volcker, Bob Herz and a lawyer representing PwC and EY. The Ross Roundtable on the “Impact of Reemergence of Consulting Practices at Major Audit Firms” was well attended.
I was asked to talk about HP and Autonomy tonight on NPR’s “All Things Considered” program.
 Francine McKenna (@retheauditors) has more than twenty-five years of experience in consulting and professional services including tenure at two Big 4 firms, both in the US and abroad. Look for my column, "Accounting Watchdog" at Forbes.com and "Accountable" at American Banker. For more information, click "About" at the bottom of this page. For more information contact Francine McKenna, fmckenna@mckennapartners.com |
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