|
||||||
 | ||||||
| ||||||
This column originally appeared in Going Concern on June 16, 2010.
From the Chicagoland Chamber of Commerce website:
Deb [DeHaas] is the vice chairman and Central region managing partner for Deloitte LLP, which includes 23 offices across 12 states. With 9,000 professionals, Deloitte is the largest Big Four organization in the region. In this role, Deb leads [...]
My October 6 column for American Banker was cited by Congresswoman Maxine Waters and others to support the strong management of conflicts of interest by the OCC in the mortgage servicer reviews as well as full disclosure of vendors and their engagement letters with the banks. On November 22, 2011, the Office of the Comptroller of the Currency (OCC) disclosed the names of the consultants, their clients and redacted versions of the engagement letters between the banks and consultants.
One of the wonders of Twitter is the people you meet.
You can write the tool off as talk, talk but it’s been a wonderful window to new worlds for me. People I would have never imagined knowing are in my life because we can gauge common interests passively. Which interests you reveal are entirely of [...]
Let’s not forget PricewaterhouseCoopers, MF Global’s auditors.
When it comes to hands-on access to private information, the auditor has more than any other regulator mentioned. And they are supposed to be experts in that client’s business and in the accounting and auditing standards for that industry. PwC also audits JP Morgan, Bank of America Merrill Lynch, and Goldman Sachs. They are all large players in the futures brokerage industry.
Almost everyone wondering where the missing MF Global customer assets have gone thinks they will show up eventually. I believe the assets are long gone.
My latest column is up at American Banker, “Are Cozy Ties Muzzling S&P on MF Global Downgrade?” You may recall the last time I wrote about MF Global. Something about a “rogue” trader.
My American Banker column on Tuesday focused on the risks to banks, their audit committees, and shareholders of an auditor who blows off its regulator. Deloitte’s ongoing conflict with the PCAOB poses the risk of undue scrutiny by other regulators and unwanted publicity to all its clients.
I visited North Carolina State University in mid-October at the invitation of Professor Scott Showalter, a retired KPMG partner. Here’s the speech and a few good links for professors and accounting students.
The Sarbanes-Oxley Act of 2002 and Dodd-Frank’s clawback provision both require a restatement. The restatement of financial results to correct material errors – whether those errors occurred by default or by design – is a necessary condition for enforcing both the Sarbanes-Oxley Section 304 provision and the new Dodd-Frank law.
Here are my ten steps to building my blog community. They might not work for everyone, but they’ve worked for me. This is not meant to be an all-inclusive list or all the details. Please let me know if you have any questions or want to dig into a subject further.
 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. Your firm can sponsor this specialized news site. For more information contact Francine McKenna, fmckenna@mckennapartners.com |
|
