Category: Risk Assessment and Priority Setting
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Vacation — It’s Time to Go!
No comments on Vacation — It’s Time to Go!I'm ready for relief from this month’s miserable news cycles — a holiday – packing a…
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Published Elsewhere: Dialog on the Auditor/Client Relationship — Accounting Today
On June 14, Accounting Today had an on-line piece by Jillian Rojas — "Auditors: Friends or…
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Fear and Loathing at the Airports – The Transportation Security Administration Brings Its Own
Which of these two scenarios at Chicago’s O’Hare Airport should be more distressing? The flight I…
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Gaudeamus Auditors? Instead, the Vatican Casts PwC from its Temple
Because profound issues of governance and institutional politics pervade large entities, of all types and in…
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The PCAOB Hates Altered Documents – Stop Giggling, and Listen Up
“(W)hoever, in any matter within the jurisdiction of the executive, legislative, or judicial branch of…
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Le Monde and I discuss: “Quand les « Big Four » s’écrouleront”
While in London last month to promote my recently-published book on the fragile and threatened…
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“Beware the Ides of March” – This Year, Who Should Care?
Political and other careers have ended sharply on the 15th of March, ever since Julius Caesar…
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A New Entry in Charlie Munger’s Daily Journal
The usually sharp-tongued Francine McKenna was the very vision of under-statement in her Market Watch for…
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“Count Down: The Past, Present and Uncertain Future of the Big Four Accounting Firms”
No comments on “Count Down: The Past, Present and Uncertain Future of the Big Four Accounting Firms”The revised, updated and expanded second edition of my book — “Count Down” — was released…
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L’Affaire Denim: The Accounting Firm Dress Code Debates Span Borders, Decades
The Going Concern blog, edited by Caleb Newquist, serves its enormous audience among the younger members…
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Prescribed at Valeant: “Mr. Pearson, It’s Time to Take Your Medicine!”
It’s not considered good manners to speak ill of the sickly. Nor, for that matter, the…
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In Print: “A Look at the Profession’s Uncertain Future” – The CPA Journal
Through 2015 The CPA Journal – published by the New York State Society of CPAs –…
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Mike Oxley, RIP – Now For His Legacy…?
“De mortuis, nil nisi bonum” As the bells of celebration were ringing in the New…
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The PCAOB on Partner Naming – Late News from the Devil’s Playground
And the earth was without form, and void; And darkness was upon the face of…
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“Count Down” Is Published
It’s out. Emerald Publishing has this week released my book, “Count Down: The Past, Present and…
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Guest Post: “Count Down” Speaks to Several Audiences
Thanksgiving will have extra meaning this year – it’s the week set for Emerald Publishing’s release…
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Still Running on Hot Air – Sepp Blatter Is Smoking His Own Fumes
Richard Kimble: “I didn’t kill my wife!” Deputy Marshall Samuel Gerard: “I don’t care!” —…
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“Count Down” – Now It’s A Matter of Proof
A stack of 240 freshly typeset pages sits on my desk. This week is fully committed…
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Specially-Designed Auditors’ Reports: A Noble Gesture – If a Futile One?
Noble Group Limited, the Asian commodity trader — based in Hong Kong, listed in Singapore and…
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Book Announcement: “Count Down — The Past, Present and Uncertain Future of the Big Four Accounting Firms”
For those who may have wondered — my reduced schedule here in recent months had a…
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Sifting the Fly Shit Out of the Pepper – The PCAOB Comes Back on Partner Naming
After eighteen months of inactivity, other than frequent promises of further action, Chairman James Doty of…
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FIFA’s Own Goal – Can Sepp Blatter Trust His Team?
“Your father did business with Hyman Roth, he respected Hyman Roth… But he never trusted Hyman…
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“Audit Deficiency Syndrome” – IFIAR and the PCAOB Would Call It a Global Epidemic
In the panoply of clumsily identified affinity groups, the acronym for the awkwardly named International Forum…
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Paris In The Spring: Free Speech Limits on Saying “I Am Charlie Hebdo”?
This week wraps up my winter teaching engagement in Chicago, in anticipation of our seasonal return…
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The SEC Settlement with the Big Four Accounting Firms – The Chinese Puzzle Misses Some Key Pieces
On February 6, the Securities and Exchange Commission in Washington announced its order, ostensibly resolving its…
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Risk Management – When The Game is On The Line
“Three things can happen when you pass. And two of them are bad.” — Texas Longhorns…
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After Charlie Hebdo – France Expresses Its “Liberté, Égalité and Fraternité”
For dessert this evening in our home in Chicago we will offer our guests…
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The Financial Fragility of the Big Four Accounting Firms – Updating the “Tipping Point”
“Predictions are difficult. Especially about the future.” — Variously attributed to an old Danish proverb,…
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Around the Media – “The Economist” Gets A Good Deal Right
Recognition should be given where deserved. Mainstream media reporting on the grave challenges to the viability…
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Deloitte’s Audit Ban in Saudi Arabia — And Its Global Effects?
This week’s report that the Capital Market Regulator in Saudi Arabia will ban Deloitte’s firm from…
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Merci pour “Le Grande Thanksgiving” — Art Buchwald Explains It All
Despite the many and perplexing challenges of our times, this American holiday of Thanksgiving presents much…
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Guest Post: “Where Were The Auditors?” –- Addressing the Inevitability of Behavioural Risk
It was my pleasure this week to write this guest post for my friend in London,…
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In Print: Professionally Responsible Decision-Making
Although I do not have a classroom this fall, with the graduate-level course “Risk Management and…
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Alibaba: Jack Ma Cried Out “Open Sesame” – And They All Opened Their Wallets
The modern story of Alibaba Group Holding Limited (NYSE: BABA) may be just as “fabulous” as…
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Government Assignment and Financing of Audits? The New York Times Offers a Poisoned Bouquet
“Full many a flower is born to blush unseen, And waste its sweetness on the desert…
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Sarbox Redux: Under PCAOB Logic, the EY/Ventas Affair Will Mean Audit Partner Naming
When the Public Company Accounting Oversight Board finally votes on its long-pending requirement that auditors of…
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General Electric–Alstom: Another French “Victory” – Just Like Waterloo
It was readily predictable back in April, when General Electric’s chief executive Jeffrey Immelt launched his…
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The PCAOB Asks the Auditors an Unanswerable Question: Do Company Controls “Work”?
“Measure twice – cut once.” — Quality control maxim of carpenters and woodworkers If there…
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The Rolls-Royce of Audit Reports Hits The Road: Test-Driving KPMG’s Latest Model
“So tell me what you want – what you really really want.” — Spice Girls,…
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Big Data: Can the Regulators Handle the Big Challenge to Big Audit
I yield to no one in my respect for the intelligence and dedication of Public Company…