PCAOB’s Franzel Speaks to AAA; Are Auditors’ ICFR Opinions Just “Busy-Work”?

Auditor opinions on ICFR are not only not being done well, they are not producing warnings for investors and regulators that a material error and restatement is likely. Worse than that, when auditors get them wrong they whitewash their mistakes.

MF Global Mystery: The Beginning of the End or the End of The Beginning?

Lots of news and updates on MF Global, PricewaterhouseCoopers, JP Morgan, Jamie Dimon and the politics of money.

Do Prospective Inspections of Broker-Dealer Auditors Present An Opportunity?

There’s nothing worse than the appearance of regulatory infrastructure and enforcement without the consistent and forceful execution of that regulatory mandate…

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

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.