Speaking Engagements/Conferences

I’m done traveling until 2020 when I’ll attend the AAA-Audit Section meeting in Houston in January. See you there!

My take on the latest at the PCAOB and KPMG

In Episode 449 of the FCPA Compliance Report, I spoke with Tom Fox to discuss the current status of the KPMG defendants and what their conduct means for the audit profession going forward.

Update: Botta v. PricewaterhouseCoopers LLP, Case 3:18-cv-02615-RS

A judge denied PwC’s motion for summary judgement. The case goes to trial in October. Mauro Botta brought an action in district court in California against PricewaterhouseCoopers LLP alleging that PwC wrongfully terminated him in retaliation for a whistleblower complaint he made to the Securities and Exchange Commission about PwC’s auditing practices. There’s been a lot written about the case, which is ongoing.

An SEC Fine for KPMG in the PCAOB Data Theft Scandal and Another Horrible Revelation

“Innovation demands risk-taking… which, in turn, entails redefining failure, stripping away its power to inhibit.” Chairman and CEO of KPMG Lynne Doughtie

The Question of the KPMG Whistleblower

The timeline of who told whom what and when, this time around for KPMG, is a bit more complicated than David Middendorf described in his testimony in the criminal case against him for allegedly conspiring to steal PCAOB inspection data.

McKenna On Buffett, Berkshire Hathaway, and Kraft Heinz

Has Warren Buffett run out of long-run? The stars aligned and Warren Buffett issued an annual shareholder letter that was forced to include an embarrassing charge for significant losses on Berkshire Hathaway’s investment in Kraft Heinz. Buffett’s letter was a rant against GAAP, and a 180 degree turn from his typical long-term focus. I was in New York […]

Amazon and taxes, oh my!

  Jeff Bezos has bigger problems than the Queens pull-out and criticism of Amazon’s taxes. He may want to wipe that smug look off his face.  Photo from Forbes.  Amazon backed out of its selection of Queens, NY as a location for a new headquarters this week.  It was a big story, revolving around new […]

Do Investors Care At All About Audits Anymore?

Would investors still pay for an audit if it weren’t legally mandated? Are regulators and exchanges perpetuating a government-mandated oligopolistic exclusive franchise for the Big 4 and a few additional firms that produces information investors now ignore?

MarketWatch 2018 Stories That Packed A Punch

A wrap-up of my writing in 2018 on three topics I’d been following that reached a climax last year — Theranos, FDIC v. PwC and KPMG/PCAOB inspection data theft— and three more where my reporting resulted in a legal or regulatory impact on the companies—ADT, Symantec, and IGC.

Update: KPMG: Whittle and Holder Plead Guilty

KPMG partner Thomas Whittle broke ranks on October 29 and pleaded guilty to all five criminal charges. He is now cooperating with prosecutors. Do you have more information about this case? Leave a comment here, one I can leave unposted, if you wish to communicate confidentially or DM me on Twitter @retheauditors for Signal encrypted confidential messaging instructions.

A Requiem for Independent Audits: The Last Days of Theranos

Looks like the Theranos investors decided that audits are worthless, even if the cost is some “immaterial to them” fraud losses.