When HP announced its intention to acquire Autonomy, the British data analysis firm now mired in accusations of serious fraud, Deloitte probably shed some enormous tears of joy. Deloitte can now openly replace those Autonomy audit fees with guilt-free consulting and lucrative alliance deals.
I wonder how PwC GRC Advisory partners feel knowing their multimillion dollar profits from the OCC/Fed foreclosure reviews will be used to pay three big settlements for audit failures at Colonial Bank and MF Global?
Reuters has a story out today entitled, “Regulators tighten up bank in-house checks.”
Unfortunately it does nothing, in fact it distorts, the role of internal audit, external audit and the Audit Committee of the Board of Directors in a bank.
I’ll be covering the Compliance Week Annual Conference in Washington D.C. next week June 4-6, 2012 at the Mayflower Hotel. The venue alone is worth the price of the ticket! This year I will also be moderating/hosting several panels. See you there!
Executive search is a lot like the real estate business. Headhunters, with very few exceptions, like realtors, are getting paid by the seller or the company that is selling the job that you, as a candidate, are buying. The best ones manage this ethical dilemma well, especially when the compensation package, like the purchase price of […]
The next time something goes terribly wrong at a Berkshire Hathaway company, there’s a strong possibility no one will hear about it. Warren Buffett and Charlie Munger won’t be held directly responsible either. That’s the beauty of Buffett’s version of a conglomerate corporate structure, decentralized to such an obscene level such that its minimalism is brandished as a feature not a bug.
The results of Protiviti’s survey of Sarbanes-Oxley compliance are out. I like seeing viable alternatives to the Big Four audit firms.
In December of 2009, India’s Central Bureau of Investigation (CBI) arrested Mahindra Satyam’s internal audit head V S Prabhakar Gupta for his alleged involvement in the Satyam fraud.
This article was originally published at GoingConcern.com on March 3, 2010. Most don’t wear stilettos, although Cynthia Cooper is fairly attractive for a blond. Harry Markopolos, the Madoff “hero” whose new book is out is being called a whistleblower. I do not see him really warming up to that label or really warming up at […]
KPMG, external auditors for HBOS, were front and center in the controversy over written testimony from Paul Moore, HBOS’ former head of regulatory risk and a former KPMG partner. A guest posting on February 19, 2009 over at The Financial Times’ FT Alphaville blog.
The Chicago chapters of the IIA and ISACA are pleased to present the 2010 Annual Holiday Celebration, December 9th. Please join us for an elegant afternoon of networking and holiday cheer. We are extremely excited to welcome Mr. Richard (Dick) Anderson as our keynote speaker, an acclaimed scholar on the subject of corporate governance and […]
“The regulator said auditing firms needed to pay “particular attention” to guidance that it had previously issued on monitoring transactions taking place around year-end, as well as the procedures expected to be followed by auditors…” If that sounds like Lehman Brothers, it’s because the kinds of tricks and techniques used there, such as Repo 105, are neither new nor unique.
