Stay tuned as the non-GAAP use comment letters to the companies who didn’t take the hint on their own or who took some prodding in written from to come around, start making it to EDGAR. Should make for some interesting fall reading.
Next Up: September 20, 2016, On a panel at the National Association of Corporate Directors 2016 Global Board Leaders’ Summit in Washington D.C..
Peter Thiel’s Pursuit Of Technological Progress; It’s Not About Democracy and It’s Definitely Not About Capitalism – Part 2Monday, July 25th, 2016
One of Peter Thiel’s most interesting ideas is the Thiel Fellowship. It is also his most insidious. In Part 2 of my paper, I talk about borrowing from Timothy Leary, Thiel’s Fellowship initiative, Karl Marx, and the “iron cage” Thiel promotes for anyone not quite as bright as he.
At MarketWatch I am fortunate that I am not expected to write a story every day, although that’s fine if something comes up like an SEC enforcement order or a spectacular corporate scandal. I am encouraged, instead, to come up with original analysis of important stories in financial regulation and legislation. We want to add […]
The PCAOB will vote on final rule based on its proposal on Tuesday Dec 15. If audit partner names were published in the audit report, or anywhere, the public, audit committees, investors and journalists could stop lousy auditors in their tracks. Melissa Koeppel of Grant Thornton is the best case yet for making audit partner names and their engagement history, disciplinary history, and litigation history public.
On July 21 Dodd-Frank will be five years old. If I hadn’t been through the same thing with Sarbanes-Oxley now twice, I’d be more excited. But the partisan rancor on this law, especially at the SEC, is even worse.
“Tax Avoidance On An Industrial Scale” Says British MP About PwC’s Luxembourg Work For AIG And OthersWednesday, December 10th, 2014
British MP Margaret Hodge grilled Kevin Nicholson, of PwC’s UK tax practice, in a Parliament Public Accounts Committee hearing on Monday. You know you’re on your “back foot” when the first thing out of your mouth has to be a denial that you lied under oath. More details about PwC’s tax avoidance scheme for audit client and US government owned AIG.
Update: The PCAOB is investigating PwC for its tax avoidance advice to Caterpillar, the Wall Street Journal is reporting. One down, more than 100+ PwC audit clients advised via Luxembourg to go…
Update: This column was linked to by the NYT Public Editor! I published some New York Times numbers over at Forbes.com, “Time Is Running Short For The New York Times”, in anticipation of the company’s 3Q earnings announcement on October 30.
Anthony Canalungo wrote a really interesting article about Herbalife’s financials in Venezuela. Three different MLM companies from the peer group in addition to Herbalife operating in Venezuela and all except for Herbalife are using SICAD 2. What else do these four firms have in common? Auditor PwC.