• Archive for the ‘PCAOB’ Category

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

    By • 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.



    @Going Concern “Can I Have Your Autograph?”

    By • 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 […]



    McKenna in Accountancy Magazine

    By • 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.



    Looking Out For Me, Myself, And I

    By • 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.



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

    By • 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 […]



    PCAOB – Seeing The Big 4 Through Rose Colored Glasses

    By • 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. […]



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

    By • 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 […]



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

    By • 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 […]



    ACAP -The Acronym Tells The Story

    By • Mar 18th, 2008

    Picture Source On March 13, 2008, the U.S. Treasury Advisory Committee on the Auditing Profession (ACAP), co-chaired by former SEC Chairman Arthur Levitt, Jr. and former SEC Chief Accountant Don Nicolaisen, met to discuss the preliminary recommendations of its subcommittees on human capital, [audit] firm structure and finances, and concentration and competition. Edith Orenstein was […]



    On Global Firms – More Where That Came From

    By • Mar 17th, 2008

    Picture SourceThere were some very thoughtful comments to my post on Friday regarding the firms and their “global networks.” A couple of questions for my commenters: @Final Four Guy – I actually agree with your comments on this complex topic. But am curious where you think my comments are off base. As far as the […]