Darning Socks: Audit Report Proposal Promises More Holes Down The Road

Don’t get too excited. The same sticky issues come up every time, get tossed around and then get dropped until the next scandal or crisis provides an impetus for a discussion again.

Auditor Musical Chairs At Moody’s

Moody’s latest 8-K announces the dismissal of PwC and hiring of KPMG as their auditors. What happened there? As noted in my previous post, the relationships between the rating agencies, monoline providers and Big 4 are tight. As we know, Moody’s had little choice if there was an issue, which we know there was regardless […]