Archive for the ‘Attorney-Client Privilege’ Category

Are Auditors Reporting Fraud And Illegal Acts? The SEC Knows But Isn’t Telling

By Francine • Feb 22nd, 2012

There are still many unanswered questions about how and why the financial crisis frauds occurred. New frauds, such as the Chinese reverse merger frauds, took advantage of a public listing loophole that the SEC and auditors missed. All these investor losses occurred under the supposedly watchful eyes of auditors, who are paid dearly to protect shareholders but in many cases are either complicit, incompetent, or both.

Share

Update: Mortgage Servicer Foreclosure Review Process

By Francine • Dec 27th, 2011

I was the first to report on December 6 the irony of Deloitte having been selected by, of all banks, JP Morgan Chase. The high likelihood of a conflict between the bank and the audit firm, and possibly the individual Deloitte partners assigned to the JP Morgan Chase review, should have been obvious to anyone at the OCC. It turns out I was right.

Share

What The Auditors Saw – An Update on Société Générale

By Francine • 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 for the [...]

Share

Update (2) – More FAS 5 – More Transparency or More Shilling

By Francine • Aug 11th, 2008

And the US Chamber of Commerce also pipes in.  As expected, they are on the side of their corporate management constituency.  Although I agree with their position about erosion of attorney client privilege, I do not agree with their position regarding this privilege when it comes to information requested by auditors.
Auditors (internal and external) must [...]

Share

Auditors and Privilege – Ask Me No Questions, I’ll Tell You No Lies

By Francine • Nov 26th, 2007

Photo Source
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 [...]

Share