Ok, so it’s not a quote. And they don’t even mention my name. But indulge me a minute. I’m thrilled to have been linked to by American Lawyer’s Amy Kolz in the AmLawDaily Blog regarding the Berkshire Hathaway investigation of the Sokol affair.
Stanford University Graduate School of Business Professor David Larcker and his research associate, Brian Tayan, have developed a case study on the recent David Sokol – Berkshire Hathaway corporate governance slip-up. They emphasize, “The success of this system is predicated on the expectation that Berkshire Hathaway managers operate with high levels of integrity.” I don’t think Berkshire Hathaway’s leadership defines corporate governance the way everyone thinks they do. The bigger question is: Should that matter to their investors or anyone else?
I’ve just wrapped up two days of conference attendance here in New York City – The FEI Current Issues in Financial Reporting Conference and the Directorship Boardroom Leaders Forum.The Directorship BLF started with a dinner on Monday night which I was unable to attend but that featured what I heard was a great speech by “pay czar” Kenneth Feinberg. The BLF conference itself didn’t kickoff until later Tuesday morning. In the meantime, on Monday I attended several sessions at the FEI CFRI conference.
Broc Romanek over at The Corporate Counsel.Net has blogged about re: The Auditors twice today. He links to a podcast he asked me to tape recently on the Ernst and Young restructuring outside of the US. For the original post that caught his attention, go here. He also liked my take on his poll about access, […]
Picture Source We’ve talked about the Big 4 audit firm Catch-22 – Pay me here or pay me there, but you’re going to pay, since I hold the trump card. As was reported here and here, intolerance for risk and management of legal liability exposure are motivating the Big 4 to force the extra work […]