Archive for the ‘EY’ Category

Sunday News Roundup

By • Apr 27th, 2008

The WSJ does have a story about Jérôme Kerviel’s new job, but still no story about Ernst & Young’s merger move in the rest of the world outside the US. And here I thought I had to post at 11:00 pm on a Sunday night to beat the US business media to the story. I guess […]



Delta And Northwest Merge – No Auditors Were Harmed In The Process

By • Apr 15th, 2008

Picture Source Delta, Northwest Agree to Merger Delta Air Lines Inc. and Northwest Airlines Corp., after three months of twists and turns, Monday received approval from their boards to merge in a deal that would create the world’s largest airline by traffic — if the agreement can pass regulatory muster and overcome potentially serious employee […]



The Big 4 And Their Travel Card Relationships – Comfy And Cozy

By • Apr 9th, 2008

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, […]



EY Steps Up To Strategic Risk

By • Apr 8th, 2008

Picture Source 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 […]



The Big 4 and A Living Wage

By • Apr 4th, 2008

Photo Source 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 […]



The Lehman Loss – Did The Auditors Grease The Wheels?

By • Mar 31st, 2008

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 […]



Oh! How The Mighty Have Fallen – Update On Auditors And Their Banking Clients

By • Mar 20th, 2008

Picture Source 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 […]



Follow-Up On More Big 4 Layoffs

By • Mar 6th, 2008

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, per my […]



Wal-Mart or E&Y – Who’s The Bigger Loser?

By • Jan 5th, 2008

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 […]



Ernst & Young and Rudy Giuliani

By • Dec 11th, 2007

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 […]