Archive for the ‘Pure Content’ Category

Winning! PwC Argues Both Sides Of The Partner Naming Debate

By Francine • 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.



By Francine • Dec 18th, 2013

Stories that get stuck in your teeth.


New In Chicago Booth’s Capital Ideas Magazine: Big Four To Big Three

By Francine • Dec 13th, 2013

Could the audit industry, which thrives on a government mandate that subsidizes an oligopolistic business model, survive if we went, catastrophically, from four to three global firms?


Call of Duty: Who Has The Last Word On “Network” Audits of US-Listed Companies?

By Francine • Dec 10th, 2013

Who has the last word on audit quality and compliance with GAAP and SEC filing requirements for US-listed foreign companies? If you were hoping it was the US audit firm, you’ll have to prove your case in court.


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

By Francine • 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.


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?


The “Chilling Effect”: No One Important Wants The Auditor’s Opinion

By Francine • Nov 13th, 2013

Are auditors too cozy with management and the Audit Committee? Unfortunately, that the way they all seem to like it. Investors and the capital markets suffer.


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?


Only Money—Deloitte Pays Another Fine And Then Moves On

By Francine • Oct 23rd, 2013

Deloitte has been caught thumbing its nose at regulators again. Deloitte is the best example in the Big Four of how a large consulting business corrupts an audit firm.


$99 Million Buys EY Ticket Out Of Private Lehman Litigation, Finally

By Francine • Oct 21st, 2013

Last defendant standing. Not an enviable place for EY in the case, In re Lehman Brothers Securities and Erisa Litigation. Holding out until the end has now cost EY $99 million, more than Lehman officers and directors.