McKenna Quoted in American Banker re: Second-Lien Mortgages

I was quoted on May 2 in an article in American Banker by Alex Ulam entitled, “Why Second-Lien Loans Remain A Worry”. My quote focused on disclosures and transparency – for the loans and the reserves for losses. It’s a subject I’ve written about extensively.

McKenna Quoted in The Sunday Times Dublin

It may be that real accounting industry reforms will come this time. More likely than not they will not. But you can count on one thing. I will keep talking and writing about the need for those reforms.

Summary of Posts on Disclosure of Litigation Contingencies

I’ve written extensively on the subject of disclosure of litigation contingencies, most recently for Forbes. My feelings about any clashes between auditors and accountants over disclosures for contingencies were outlined, with no subtlety, when the idea of tightening the requirements was first proposed in 2008.

Still No Accountability: An Update On The Goldman Sachs Facebook Deal

This week the Goldman Sachs Facebook deal fell apart. Sort of. Due to the extensive media coverage of the details, in particular before they were final, Goldman Sachs was running some really big regulatory risks related to general solicitation of potential shareholders. Here’s an excerpt from what I wrote about the deal on January 4th. Read the rest in my column on Forbes, Accounting Watchdog.

Goldman Sachs’ Senate Testimony: Did CFO Viniar Screw Their Pooch?

This article was originally posted on Going on April 29, 2010. I watched all 11 hours yesterday of the Goldman Sachs testimony to the Senate Permanent Committee on Investigations. I never expected anyone to mention the auditors and I was not disappointed. You may think, given my criticism of the auditors, that I would […]

Columbia Journalism Review Cites McKenna For Ernst & Young Lawsuit Coverage

CJR recently complimented my writing in Forbes on the New York Attorney General’s case against Ernst & Young over Lehman.

@Forbes: Wikileaks and Banks, Federal GAAP – A Deloitte Tale

Which bank should feel threatened by Assange and Wikileaks? I’m betting on Citigroup. And…Did you know the Federal Reserve Bank makes up its own accounting principles? Call it “Government GAAP”, but don’t call it fair value.

GM’s Audit Flubs: A Video For The

While I was in New York last week for the FEI Current Financial Reporting Issues conference, I taped a spot for The on the November 18th GM IPO. I was against the GM bailout. I’m embarrassed by how the administration has manipulated this “resurrection” of GM.

Approva Interviews McKenna For Their “Control Freak” Q&A

“Happy Wednesday, everybody! Great news — we’ve got another in our ongoing Interview the Interviewers series, wherein we talk with industry hotshots about control in their work and personal lives. This week we got to talk with our longtime friend (and prolific blogger/tweeter) Francine McKenna, of Re: The Auditors. Hope you enjoy it as much as […]

McKenna Quoted In American Banker Re: Balance Sheet “Window Dressing”

Jeff Horwitz from American Banker asked me if I thought more and more frequent disclosure would solve the problem, as it has been defined. I was not sanguine.

re: The Auditors In The Columbia Journalism Review for KPMG/Countrywide/New Century Coverage

Dean Starkman edits The Audit, a critique of the business press at the Columbia Journalism Review. I had the good fortune to be cited recently – it’s the fourth time if you’re keeping count – by The Audit and Starkman for my coverage of KPMG’s settlements of their Countrywide and New Century litigation. Speaking of […]