Archive for the ‘PCAOB’ Category

Inside The Mind of An Inside Trader

By Francine • Mar 5th, 2011

The SEC has accused one of the most prominent businessmen ever implicated in such crimes, Rajat Gupta, a former McKinsey & Company Global Managing Director, of insider trading. It’s understandable that, in the heat of this moment, some might naïvely compare the consequences of the criminal indictment of an audit firm with civil charges against an individual, albeit one who trades on – pun intended – his association with a prestigious professional services firm. It’s not the same thing.

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Bigger, Stronger, Faster: The PCAOB After The Supreme Court Ruling

By Francine • Jun 26th, 2010

The Supreme Court will hand down their decision on Free Enterprise Fund v. PCAOB before on June 28th. Congressional action may be necessary to reestablish the PCAOB or a comparable regulatory authority within the SEC, if we want to continue independent regulation of the audit firms. I have some recommendations for a new PCOAB law.

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Sarbanes-Oxley For Everyone: To Be Or Not To Be? (With Postscript)

By Francine • Nov 24th, 2009

Sarbanes-Oxley (SOx) made law what is best practice for all public companies or companies that issue public debt. That includes “smaller” companies.

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@Going Concern “Can I Have Your Autograph?”

By Francine • Sep 30th, 2009

My new post is up @Going Concern.

“The PCAOB approved Auditing Standard No. 7, Engagement Quality Review on July 28, 2009. They also issued a Concept Release on requiring the engagement partner to sign the audit report.  The comment period closed September 11th and boy oh boy were there a lot of comments. The firms came [...]

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McKenna in Accountancy Magazine

By Francine • Jul 7th, 2009

 I was asked by Accountancy Magazine in the UK to write a summary of the Compliance Week Annual Conference for their readers.  This article, entitled ”Regulatory Reformation,“ can be found here.  Please let me know what you think.

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Looking Out For Me, Myself, And I

By Francine • 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.

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Madoff and Blagojevich: Stealing – Easier When No One Is Watching

By Francine • Dec 15th, 2008

Both are accused of being corrupt.

One gentleman has been under a cloud of suspicion for a while.  He’s denied it and dared prosecutors to wiretap his conversations, to come and get him.  He hid his activities in plain site.  As visible as a major state Governor has to be, he also kept a low profile, [...]

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PCAOB – Seeing The Big 4 Through Rose Colored Glasses

By Francine • Dec 12th, 2008

Unfortunately, I was unable to attend the AICPA National Conference on PCAOB and SEC Developments  in person.  As much as I would have loved to be there live, to ask questions and, perhaps, walk all over the wafflers with my Manolos, it’s not always possible.  In this case it may have been just as well. [...]

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Hedge Funds And Their Auditors – It’s Good To Be Aggressive

By Francine • Nov 11th, 2008

Every once and a while someone asks me,
“fm, how do you keep up with all the news, the stories?  How do you know all this stuff?”
Well…Although I have been accused of conceit, presumption, being “too smart,” being too quick to draw conclusions, painting a whole firm black on very little basis, precociousness, general egotistical behavior [...]

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Here We Go Again – PCAOB Solicits Nominations for Standing Advisory Group

By Francine • May 6th, 2008

Picture Source
Those of you who have been reading the blog for a while know that I nominated myself for the Standing Advisory Group last year, and was not chosen.   I do not say rejected because, after feeling quite ignored, I later found a nice letter from Tom Ray in my mail, thanking me for [...]

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