Madoff, MLK, Buddha And Elusive Nature of Self-Interest
Your first obligation as a professional is to your client, not your firm, your partners, or even your family.
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Broker-Dealer Audits Still Badly Broken
/8 Comments/in Latest, Pure Content, The Case Against The AuditorsThe PCAOB’s second “progress” report on broker-dealer audits found deficiencies in all of the audit firms inspected and in 57 of the 60 audits inspected. That’s not much progress.
Updated: “Background Briefing” Australian Radio Quotes McKenna
/7 Comments/in Pure Content, You Can Quote Me On ThatI was recently interviewed for the radio show, Background Briefing, and the segment, “Auditing the Auditors,” that aired Sunday August 14th in Australia. The transcript and a podcast are available. I get the last word in response to a defense of the auditors by John Hempton re: the Chinese reverse merger scandals.
Whistleblowers Are Not Pretty
/7 Comments/in Food for Thought, Fraud, Internal Audit, Madoff, SECThis 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 […]
Top Hedge Fund Investors: Stories, Strategies, and Advice – A Book Review
/3 Comments/in Food for Thought, Pure ContentCathleen Rittereiser asked me to review her new book, Top Hedge Fund Investors: Stories, Strategies, and Advice. Given my lack of objectivity about Cathleen’s fabulousness and minimal knowledge of the hedge fund industry, I asked a hedge fund industry veteran, David Fialkowski, to help me.
Do Prospective Inspections of Broker-Dealer Auditors Present An Opportunity?
/2 Comments/in Food for ThoughtThere’s nothing worse than the appearance of regulatory infrastructure and enforcement without the consistent and forceful execution of that regulatory mandate…
Suing Audit Firms re: Madoff: The Iguana In The Room
/13 Comments/in Latest, Madoff, Pure Content, The Case Against The AuditorsWhich firms have the most Madoff-related claims? Which audit firm locations are named most often? Which filings do not name an audit firm and why? How many name the international audit network umbrella firm? Shouldn’t they all?