• Archive for the ‘EY’ Category

    Hedge Funds And Their Auditors – It’s Good To Be Aggressive

    By • Nov 11th, 2008

    Every once and a while someone asks me, “fm, how do you keep up with all the news, the stories?  How do you know all this stuff?” Well…Although I have been accused of conceit, presumption, being “too smart,” being too quick to draw conclusions, painting a whole firm black on very little basis, precociousness, general […]



    What The Auditors Saw – An Update on Société Générale

    By • Oct 14th, 2008

    Prentice: It’s a fascinating theory, sir, and cleverly put together. Does it tie in with known facts?Rance: That need not cause us undue anxiety. Civilizations have been founded and maintained on theories which refused to obey fact.“What The Butler Saw”Joe Orton, 1969 Kerviel’s lawyers question Société Générale accountants PARIS: Jérôme Kerviel, blamed by Société Générale […]



    Latest Updates: My Clients Are Failing, My Clients Are Failing

    By • Oct 7th, 2008

    Update: Chicago’s John “Dr. J.” Najarian co-founder of OptionMONSTER on the need for transparency when the assets bought by the US government are eventually sold. On YouTube. Part 2 from Jon Najarian is here.   I have been updating this information throughout the weekend as other banks failed and other deals have been done. A […]



    "Rogue" Partners At KPMG Christchurch

    By • Jul 15th, 2008

    Here in the US, we are accustomed to the concept of a national practice  for our Big 4 firms.  Although each of the local offices, in each city, in each state has a Managing Partner and local partners, the firms are rarely separate legal entities.  A partner is a partner of the National firm, not […]



    And The IRS Has What Leverage Over The Firms?

    By • Jul 7th, 2008

    I laughed out loud when a Google Alert pointed me to the FT article excerpted below.  I find this solicitation by the US Internal Revenue Service quite ironic given that four of the six firms mentioned have had serious, and I mean serious, issues with the IRS related to their aiding and abetting the development […]



    Approved! All Together Now – EY To Be One Firm (Except US, Of Course)

    By • Jun 3rd, 2008

    Ernst & Young Completes Groundbreaking Globalization Move EY Partners Overwhelmingly Approve the Creation of EMEIA LONDON–(BUSINESS WIRE)–Ernst & Young today announces that its partners across Western and Eastern Europe, the Middle East, India and Africa have overwhelmingly approved the proposed integration of its country practices into a single EMEIA Area. The new Area will be […]



    SocGen And PwC – They Still Don’t Know Jack…

    By • May 26th, 2008

    As those of you who follow my Twitters know, last Wednesday I had the good fortune to have dinner with our Governor and a few other State of Illinois executives and local entrepreneurs. Most were in the technology arena, as is my client, who I was there to support, cajole, nudge and share a rib […]



    Nickels and Dimes – They Add Up…

    By • May 20th, 2008

    Michael David Thomas over at The Daily Caveat does a nice wrap up on the latest charges by the SEC against AOL/Time Warner. Who is AOL/Time Warner’s auditor? It has been Ernst and Young since before the merger between AOL and Time Warner in January of 2000. Ernst and Young was also AOL’s auditor before […]



    You Thought Backdating Was On The Back Burner?

    By • May 2nd, 2008

    Picture Source I paid Linda Thomsen a compliment at the recent Capital Markets Summit.  I told her that the SEC was out of the gate early and strong on backdating and it was heartening to hear that they were still interested in it, even though the business community, maybe, thought it was old news. She liked […]



    Canada and Overtime

    By • Apr 29th, 2008

    Go here for an exhaustive summary of the overtime pay situation in Canada.  Krupo has even posted the links where you can file your claim.  Hey Krupo, what about all those US staff being imported to Canada to do audit and SOx work for multinationals because the dollar is so weak?  Do they get overtime […]