Did I Say Something Funny?

Well, Monday the 12th was a record day for this site. More page views, more first time visitors and more repeat visitors in one day than at any other time since I started writing last October.

I am still not sure why. Maybe it was the double whammy of writing about both PwC-Moscow and Deloitte-Options Backdating.

KPMG needs a day off, once and a while, no?

Buen día a mis aficionados españoles y lo que hablan español. Gracias por su atención.

Farthest away, most obscure (to me at least) visitor – Someone from Tamil Nadu, Chennai, India.

Most repeat visits (57) – Someone from PwC New York. Maybe it’s the lawyers 😉

Most interesting visitor (to me at least) – The PCAOB

Scariest visitor (to me at least) – The SEC (Need ideas? Call me…)

Most common visitors – I get a lot of law firms… Go figure…

Most loyal visitor – Dr. Prem Sikka (He checks even on the weekends!)

I’ll be writing about the Commission on the Regulation of U.S. Capital Markets in the 21st Century – Report and Recommendations later in the week. First I have to read it and I also want to listen to the webcast.

In the meantime, noodle on this:

Why in the world would the Big 4 audit firms change anything about how they address the Sarbanes-Oxley law in their audits when they’re still getting criticized strongly in their PCAOB reports for the way they manage their firms and for lapses in audit quality and when they are so concerned about getting sued?

Level of effort and costs will never come down unless the auditors get what they want – liability relief.

My prediction?

The regulators in the US will cut a deal with the audit firms to give them liability caps in return for lightening up on their clients. This deal will placate the most important constituency for both of them – corporate executives. (On this they all agree with each other…)

(You thought I was going to say investors? What????? Was I born in a pumpkin patch?)