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    Another Update on the Case of FDIC v PricewaterhouseCoopers re: Colonial Bank

    Sunday, April 8th, 2018

    On February 28 the US Justice Department fined Deloitte & Touche LLP $149.5 million for alleged fraud against the government related to its role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. Also: The damages phase of the FDIC v. PwC case regarding Colonial Bank is set to begin in Washington DC on March 20.



    Speaking Engagements/Conferences

    Monday, April 2nd, 2018

    I added . link to the details for the May 2 fraud conference in New York, where I will be a panelist with Carson Block of Muddy Waters Research. Also on the agenda Bethany McLean interviews Andy Fastow, Prof . Ed Ketz of Penn State, and many others who talk and write and teach about corporate fraud. Staying in NYC for the May 3 financial reporting conference at Baruch College. Talking to MAcc students at Texas A&M via Skype on April 11.



    McKenna at The Frunchroom

    Monday, October 2nd, 2017

    She’s a native South Sider, and she’s definitely traveling the longest distance to be at the show this Tuesday at Beverly Arts Center. Guess who?



    Revenue Recognition is Coming: Part 2

    Thursday, September 7th, 2017

    I’ve been coaching my colleagues on how to spot updates and interesting anecdotes about revenue recognition during the second quarter earnings season. Now we are catching up on the Qs filed and comparing disclosures after concentrating on what was said in earnings releases and calls.



    Revenue Recognition is Coming: Following the Progress at MarketWatch

    Wednesday, September 6th, 2017

    Once I returned from my Stigler Center fellowship I got to work catching up on the new standard, talking to experts everywhere and working with Audit Analytics to come up with the data to support stories–by my and my colleagues–about companies and their response to the new standard. My goal was to pick some of the obscure topics that were unique or focused on a specific industry.



    More on KPMG and the Precedents for Possible Punishment

    Sunday, April 23rd, 2017

    Why did they do it? The WSJ walks around the question but KPMG may face big fines and, I think, its partners and the PCAOB professional could face criminal charges.



    KPMG Takes Its Turn With a Big 4 -Sized Scandal

    Monday, April 17th, 2017

    The KPMG/PCAOB scandal is neither the first or last time a Big 4 firm reminded us that there’s nothing special anymore about being a Big 4 firm professional The firms, and their partners, are not capitalist eunuchs, immune from perverse incentives that advocates for free markets say, if big enough, can corrupt anyone.



    The Legacy of Mary Jo White

    Monday, November 21st, 2016

    Mary Jo White became the 31st Chair of the Securities and Exchange Commission on April 10, 2013. Last week she announced she would be leaving the job when President Obama leaves office. Here are some links to recent articles and a few choice ones from the past.



    TBW Plan Trustee v. PwC: A Look at What Led To It and What’s Next

    Sunday, September 25th, 2016

    Here’s a brief look at the TBW Plan Trustee v. PwC trial, what led to it and what’s next.



    The SEC On Non-GAAP Metrics: A Collection of Writing at MarketWatch

    Sunday, July 31st, 2016

    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.