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This blog has recently been reminding you of the independence standards imposed on the audit firms with regard to their relationships with their vendors.
Don’t get me wrong… It’s not easy for anyone to keep it all straight.
In my previous post on PwC’s relationship with Aramark as a vendor for its cafeteria, in response [...]
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Regular readers will be hard pressed to find too many shout outs and kudos to Big 4 firms or their defenders on this blog.
Oh, they’re there. And there. And there.
But I’m very picky about giving out compliments. It’s not that I don’t have many friends, former colleagues, and business contacts that are with [...]
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There’s an ongoing dialogue related to my Big 4 Blind Items post.
Specifically, someone added a comment regarding outsourcing/off shoring work by the Big 4 to India and other lower wage countries. My comment, regarding my experiences while a Managing Director for KPMG Consulting/Bearing Point in Latin America, is there, too.
However, that got me thinking [...]
In Japan, it’s not unprecedented for the auditors to make everyone feel comfortable and sometimes be in on the deal…
Lehman hit by fraud involving Marubeni employeesU.S. investment bank Lehman Brothers was defrauded of some $353.1 million after it was caught in a scam in Japan, a source familiar with the situation told Reuters on Saturday, [...]
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Back in November, I wrote about the imperial bankers and the impending doom and gloom that permeated the market.
I warned that the CEOs and their Big 4 buddies should be nervous, too. The Big 4 are now inextricably tied to their clients’ fortunes. Lawsuits are flying fast and furious as soon as any [...]
As we’ve seen from the comments on my PwC layoff post and other mail I’ve received, PwC is not the only one to be reducing staff via “counseling out” , “forced ranking” , “the Italian greyhounds ate the workpapers…”, or whatever other excuse they give. Both Deloitte and KPMG have also seen cuts, [...]
For my earlier posts on this issue, go here and here.
If Barack were President, would he shut down arrogant slobs like these guys? Certainly it will be more of the same wink, wink, nudge, nudge if their boy Rudy gets the nod.
Judge Rules Against Wal-Mart Over Its Tax-Shelter Dispute
A North Carolina state-court judge ruled against [...]
Picture SourceI’ve written extensively in the past about both the political biases and the campaign contributions of the US firms. All of them, as a firm, slant conservative. They are large firms so there are all kinds of people that make up their list of employees. However as service providers to big business, they tend [...]
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Back in the summer of 2005, I joined the team that audits PwC the Firm, itself. I was thrilled. Although I was giving up being on my own and spending most of my time on Mexico and South America, I was joining what I thought at the time was a world-class firm, I had [...]
New chief of BDO challenges Big 4
BDO International could be a “credible challenger” to the Big 4 accounting firms, according to its new head. Jeremy Newman, newly appointed chief executive of the company, told the Financial Times that he sees a large opportunity in the market but that becoming a fifth tier to the dominating [...]
 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 |
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