• Archive for the ‘Audit Firm Management’ Category

    Deloitte US First Female CEO; There’s More We Don’t Know

    By • Mar 2nd, 2015

    Wouldn’t it be nice if investors and other interested parties could look up new Deloitte US CEO Cathy Engelbert in a public and easily accessible registry and find out about all the audit clients where she has been a lead partner or a Quality Control partner? Has she ever been named in a lawsuit or been sanctioned? Let’s hope not.



    Deadline December 15: Support This University of Notre Dame Accounting Grad Salary Survey!

    By • Dec 10th, 2014

    The University of Notre Dame is conducting a large-scale study to explore accounting graduates’ first full-time employment positions and starting salaries following a degree in accounting. It doesn’t matter how long ago you graduated. All are welcome. Will you help?



    Piling Up For PwC

    By • Nov 18th, 2014

    Update: The PCAOB is investigating PwC for its tax avoidance advice to Caterpillar, the Wall Street Journal is reporting. One down, more than 100+ PwC audit clients advised via Luxembourg to go…



    Update: The Shoemaker’s Children… The Big Four And Their Own Broker-Dealers

    By • Oct 27th, 2014

    Did you know that each of the Big Four audit firms and some of the next tier also run SEC-registered broker-dealers? You’ll never guess who audits them.



    Not That Satisfying: SEC Slams KPMG For Independence Violations

    By • Jan 28th, 2014

    It’s been almost three years since I first broke the story of KPMG’s loaned tax staff arrangement with audit client GE. On January 24 the Securities and Exchange Commission (SEC) announced an $8.2 million settlement with KPMG over violations of auditor-independence rules. The wheels of justice turn very slowly. But the GE case was not one of the three cited as the subject of the enforcement action.



    Winning! PwC Argues Both Sides Of The Partner Naming Debate

    By • Dec 19th, 2013

    How do the audit firms keep winning the war while losing battles left and right? They use the law and the courts to delay, deter and distract from transparency by settling, and sealing what they can, before the public can find out what silly arguments they often make in their defense.



    Naming Them: Why Markets Deserve To Know Audit Partner Names And More

    By • Nov 24th, 2013

    We now know more about what the firms have been hiding. The global capital markets, not just current shareholders, need full disclosure of the engagement teams on all public issuers over time, and in a way that is easily accessible.



    Five Auditor Independence Issues PCAOB SAG Not Yet Addressing

    By • Nov 11th, 2013

    There are five big auditor independence issues that space prevented a full discussion of yesterday and that are not on the agenda of the PCAOB SAG meeting this week. My hope is that regulators, policy makers and other interested parties will start talking about these issues, too, while I am in DC this week.



    Latest Way Big Four Trying To Dodge Liability

    By • Sep 24th, 2013

    Ratings agencies and Big Four auditors don’t think they should be held accountable for their respective products. Here are some of the crazy ways they argue their case.



    On Herbalife And The Slow Death Of Value Investing

    By • Aug 3rd, 2013

    Big egos making shares move by waving their wands. That makes picking stocks based on fundamental analysis more than slightly anachronistic. A bit about Herbalife…