|
||||||
 | ||||||
| ||||||
You may question my choice of title for this post. After all, it describes the end of the tax shelter prosecution of the KPMG 13. And it was former KPMG employees, not current KPMG employees or partners who cheered when federal Judge Lewis Kaplan dismissed charges yesterday against them, 13 former employees of the accounting [...]
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 summary of “the mother of all [...]
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 [...]
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 of [...]
What’s next? The dog ate my workpapers?
I guess the 6% that aren’t proud to be associated with KPMG UK are the ones getting “redundanced.”
You had to know that this is what they meant (not too many partners, oh no…) when they talk about gaining “efficiencies” from these activities.
The other Big 4 in the UK have [...]
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 too [...]
Fannie Mae’ s external auditor was KPMG but now KPMG is suing Fannie.
Didn’t seem to bother Deloitte, who jumped at the chance to get close to Fannie.
Freddie Mac’s external auditor is PwC, who hates to abandon a sinking ship.
PwC inherited this mess from Arthur Andersen.
Fannie Mae, Freddie Mac Warned on Accounting
OFHEO Examines Use [...]
Picture Source
Update
GE’s Annual Meeting is this Wednesday. Looks like Immelt will have some explaining to do…
But take a look at this report fresh from the Associated Press.
Can you believe accounting professors are talking about earnings manipulation by GE as if it were expected and par for the course?
Makes you wonder what they’re [...]
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 [...]
Picture Source
First, it was KPMG and New Century.
Now it’s the Bear Stearns hedge funds.
Who wants to bet which Big 4 firm is next?
Looks like Jake Zamansky is going to stay very , very busy…
Bear Stearns, Deloitte sued over hedge fund losses
The liquidators of two Bear Stearns Cos mortgage hedge funds that collapsed last year, filed [...]
 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 |
|
