John Carney – Francine McKenna

Inside The Mind of An Inside Trader

March 5, 2011/8 Comments/in Independence, Latest, PCAOB, Pure Content, Regulators, Laws, Standards, Regulations, SEC, The Big 4 And Consulting

The SEC has accused one of the most prominent businessmen ever implicated in such crimes, Rajat Gupta, a former McKinsey & Company Global Managing Director, of insider trading. It’s understandable that, in the heat of this moment, some might naïvely compare the consequences of the criminal indictment of an audit firm with civil charges against an individual, albeit one who trades on – pun intended – his association with a prestigious professional services firm. It’s not the same thing.

Nowhere To Hide: Ernst & Young Looking At More Civil Liability For Lehman Failure

January 9, 2011/14 Comments/in Food for Thought, Writing for Others

The mainstream media (MSM) is now paying attention to the Big 4 – Deloitte, KPMG, PricewaterhouseCoopers, and Ernst & Young.

The financial crisis is now about accounting fraud.

Every two-bit journalist and blogger on the business beat is spitting out stories to keep up and one-up each other. It’s not every day that the accounting firms provide so much gossip about spectacular criminal and civil penalties. Well, actually, it is every day.

Repurchase Risk (Put-Back) Getting Full Court Press At CNBC

November 10, 2010/8 Comments/in KPMG, The Case Against The Auditors

John Carney at CNBC NetNet is talking a lot about repurchase risk. He’s tied it all together in a bow for us, mentions Citigroup and Bank of America, and has given me credit for having been on KPMG’s case for a while.

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