The Hits, They Keep On Coming

I’m at a seminar today sponsored by local media guru Andy Sernovitz on Word of Mouth marketing.  I’m coming late to this party, but I’ll be coming on strong. Watch for more.  I’m wearing the Prada brown strappy sandals with the four inch bamboo heels.  (Picture is a likeness not exact image. )

Party later.

In the meantime, the audit industry just keeps on giving.  Here’s a potpourri of litigation updates for your bemusement until I’m back at the blogging ranch later:

Cast Art Industries, LLP v. KPMG, LLP

For those of you who watch such things, I caught this email last week announcing that a judge had found sufficient evidence for a jury trial in a case involving KPMG. The suit alleges that the auditors failed to detect a fraud worth approximately $50 million at Papel Giftware, a firm bought by the plaintiffs, Cast Art Industries…

BDO global network posts double digit growth as demand for forensic and anti-money laundering services increases

BDO Seidman, the US firm appealing against a $521m (£261m) damage claim, has posted a 12% increase in its revenues.

The firm said its had made $659m for the year ended 30 June, compared with $589m in the previous year, citing more activity in the areas of forensic services and anti-money laundering.

The revenue increase will come as a boost for the firm after Portuguese company Banco Espirito Santo successfully argued that BDO Seidman was negligent in its audits of factoring company Bankest, leading to the massive penalty…

PwC face probe into failure to detect €21m fraud
(To get the most from this post, please read this first: Money Laundering: Are accountants and lawyers potentially just as guilty as the criminals themselves?)
PricewaterhouseCoopers are the external auditors for several large businesses in Barbados including FirstCaribbean Bank International. It is my understanding that PwC is also the external auditor of FCIB (Belize)…