• Archive for December, 2007

    Introducing Re:Balance

    By • Dec 31st, 2007

    I’ve mentioned my friend, International Herald Tribune columnist and fellow audit firm critic Jim Peterson, many times before. He and I have had the chance to get to know each other and share war stories over some wonderful meals here in Chicago. He’s got a new blog that should be on your regular reading list. […]



    Musings On The Eve Of The New Year

    By • Dec 31st, 2007

    Money’s a horrid thing to follow, but a charming thing to meet. Henry James I’m relaxing, enjoying the memory of a nice dinner out with friends last night after the theater, much time spent with family this past week, and a holiday shopping season successfully completed. The Rottie and I enjoyed some relatively warmer weather […]



    Is Goldman Dumping PwC?

    By • Dec 28th, 2007

    Over the river and through the woods, news traveled to me of the potential for Goldman Sachs to dump PwC as their auditor or at least take away a large portion of their humongous fees and give them to Deloitte. Why? Is it because Goldman is much closer politically to Deloitte? Maybe their friends in […]



    Deloitte Settles Delphi For A Pittance

    By • Dec 28th, 2007

    As settlements go, this is relatively minor. However it is another in a long line of settlements rather than trials for Deloitte, whose spokesperson, the hardworking Deb Harrington, always says: …the company had a strong legal case but “concluded that it was in the best interests of the firm and its clients to settle this […]



    Honoring Benazir Bhutto

    By • Dec 27th, 2007

    The assassination of a political leader half-way around the world does not have any thing to do with the Big 4. But the stories on the radio and on line prompted me to write something about this amazing woman. Ms. Bhutto was a wife, a mother, a daughter, and a politician. She was also a […]



    Holiday Mail

    By • Dec 26th, 2007

    When I get mail directly, rather than in the comments, it often prompts me to review my approach to the blog, my motivations and my true feelings. Sometimes I change something, sometimes I don’t. I’ve been accused of being an accountant hater, a malcontent, a disgruntled ex-employee, a whiner, an idiot and, one time, the […]



    Waiting For The New Year

    By • Dec 25th, 2007

    Merry ChristmasBuon Natale Joyeux Noël Feliz Navidad God JulFeliz NatalSelamat Hari NatalFršhliche WeihnachtenZalig Kerstfeestto all. I am taking some time off from clients this week and plan to be posting often. I’m also planning to work on the Big 4 book, I’m writing a play and I’m finalizing my New Year’s resolutions. My Christmas list […]



    Auditors Know How To Backdate More Than Options

    By • Dec 19th, 2007

    Picture Source Did auditors aid and abet options backdating by blessing schemes under the guise of “Everyone does it…”? At least one person thinks so. But we may never know, because the firms keep settling instead of going to trial and clearing their names. It may be hard to believe that an auditor, an accountant, […]



    Watchdog Vows To Dog Accountants Who Crap On Investors

    By • Dec 19th, 2007

    PwC: Are you listening? It’s highly unusual for the SEC to go after counsel to firms that are under investigation for fraud and reporting violations, as many have attested. But maybe hell is freezing over or, rather, the polar ice cap is melting? US financial markets watchdog vows to hold members of the profession to […]



    Next On the Agenda – PwC University

    By • Dec 19th, 2007

    I enjoyed a lovely evening last night as part of a new Advisory Board to De Paul University’s School of Computer Science, Telecommunications and Information Systems (CTI) . We are advising on curriculum development and outreach for their undergraduate degree in Information Assurance and Security Engineering and their Master of Science in Computer, Information and […]