• Archive for the ‘KPMG’ Category

    Looking Out For Me, Myself, And I

    By • Mar 15th, 2009

    There is at least one person who doesn’t have to worry about having a good job, at KPMG no less. Thomas Ray was the Chief Auditor and Director of Professional Standards for the PCAOB.

    According to WebCPA:

    Ray is joining KPMG as a partner in the firm’s department of professional practice in New York.



    Jack Welch and GE

    By • Jan 7th, 2009

    Thank you very much for maintaining a cynical tone during your feature on Mr. Welch and the new Mrs. Welch. In my mind, and it is a very personal opinion, Mr. Welch personifies everything that is wrong with US business.



    If It’s Not One Thing, It’s Another – Auditors Getting Sued Over Madoff

    By • Dec 18th, 2008

    The “victims” of the Bernie Madoff scandal are not taking their losses laying down. Why are so many suits suddenly being brought against the auditors of the funds that invested on behalf of their clients in the Madoff funds?



    And Now For Some KPMG Good News

    By • Dec 8th, 2008

    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 […]



    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 […]



    This Time KPMG UK Is Blaming The Merger

    By • May 22nd, 2008

    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 […]



    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 […]



    Fannie and Freddie – Incorrigible

    By • Apr 24th, 2008

    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 […]