Archive for the ‘The Big 4 And Consulting’ Category

PwC Put Guy Who Whitewashed For Bank In Partner Spot

By Francine • Aug 19th, 2014

The NYDFS PwC investigation discovered several emails that Benjamin Lawsky, the Superintendent of Financial Services for New York, characterized Monday as examples of a consultant going along with a “whitewash”.

Share


Big Four Takeovers Raise Concerns: McKenna Featured In “The Bottom Line”

By Francine • Aug 17th, 2014

The August issue of The Bottom Line in Canada includes quite a few quotes and a nice color photo of me in a story about the wave of new consulting firm acquisitions by Big Four audit firms all over the world.

Share


PwC, And HP, Sued By Mobile Monitor Technologies LLC For Theft of Trade Secrets

By Francine • Apr 14th, 2014

An ugly lawsuit filed by Mobile Monitor Technologies LLC against PwC and HP could be an excellent example of what Monadnock’s Mark O’Connor referred to in a recent post here: Advisory work that auditors perform can present an untenable conflict in performing their primary role, and public duty to the capital markets, as auditors.

Share


Exclusive From Monadnock Research: Big Four Fiscal 2013 Advisory Practice Rankings and Conflict Risk Metrics

By Francine • Mar 18th, 2014

This Monadnock Research Note offers an in-depth analysis of organic growth and strategic M&A in non-audit services for the Big Four audit firms, highlighting the growing risks associated with an increasing proportion of advisory relative to audit services at Big Four firms – and the conflict risk that this unique mix of services presents.

Share


Global Audit Firms Take “Pay To Play” From Sponsored Content to Conferences

By Francine • Nov 18th, 2013

If we can’t trust journalists to sort out who’s telling the truth and who’s just selling us, who can we trust?

Share


Five Auditor Independence Issues PCAOB SAG Not Yet Addressing

By Francine • 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.

Share


PwC To Acquire Booz But Broader Not Better For Integrity Of Global Capital Markets

By Francine • Nov 10th, 2013

PwC says it will acquire Booz. Don’t count on the SEC or the PCAOB to stop PwC and its audit firm competitors from “slipping back” into the old conflicts between audit and consulting. Is anyone guarding the guardians?

Share


Crain’s Chicago Business Focuses On Big Four Auditors And Consulting

By Francine • Oct 13th, 2013

Crain’s Chicago Business and journalist Steve Strahler have produced a series on the reemergence of the consulting arms of the Big Four audit firms with a particular focus on the Midwest and Chicago firm leadership. I’m quoted and there’s a nice photo.

Share


Canceled: Why I Won’t Be Speaking At Ethics And Compliance Officers Association Annual Conference

By Francine • Sep 17th, 2013

What are the ethics of an “ethics and compliance organization” canceling a speaker because sponsors complain? Welcome to the world of trade conference pay-to-play and “money talks, critical speakers walk”.

Share


EY Bets The Farm On Advisory With Vision 2020: A Guest Post From Mark O’Connor

By Francine • Jun 30th, 2013

Lofty goals like EY’s Vision 2020 serve a promotional purpose to attract top talent, and create the rationalization for promises of vast internal opportunities to keep top performers engaged. But unintended consequences would likely foreclose any real possibility that the $50 billion aspect of EY’s 2020 strategic plan could be executed as currently conceived.

Share