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Results for auditor. Search took 0.83 seconds.
More on the Satyam-PWC scandal
in Sox First, on May 27, 2009
...ate governance regimes with laws like Sarbanes-Oxley. But nothing will be fixed until the issue of auditor independence and integrity is addressed. As Angur points out, the company was able to inflat...
GM death watch
in Sox First, on March 6, 2009
... written, 2009 will go down as the year of the dead man walking. The New York Times reports that auditors Deloitte say GM's survival is in serious doubt, and that's even with $30 billion of...
How Madoff played the SEC for suckers
in Sox First, on December 15, 2008
...d not be nearly replicated by our quant analyst. The feeder funds had recognized administrators and auditors but substantially all of the assets were custodied with Madoff Securities. This necessitate...
Oil watchdog's "corruption"
in Sox First, on October 15, 2008
...allegations of drug use and totally inappropriate sexual relations. And the fascinating part is how auditor Bobby Maxwell lost his job just after he received the department's highest award. He was...
GM and Deloitte settlement over lying to investors
in Sox First, on August 10, 2008
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General Motors Corp. and its auditor, Deloitte have reluctantly agreed to pay $303 million to settle claims that the automaker lied to investors about its finances. The settlement seeks closure o...
Clueless about XBRL
in Sox First, on July 2, 2008
...on't entirely know what to do with XBRL either. How will this be enforced? What happens when an auditor sees glaring mistakes in tagging, but the rule (as proposed right now, at least) says audito...
Limited liability for US auditors coming in?
in Sox First, on June 19, 2008
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Last week, I looked at how European auditors were on the way to getting limited liability . Now it looks like their US counterparts are going to get the same thing with reports that the Securi...
Auditor liability caps
in Sox First, on June 12, 2008
...o, I wrote about some disturbing developments where a European study pushed for liability caps for auditors . There is an issue of moral hazard here. Auditors should be held accountable and not havin...
The audit cartel
in Sox First, on June 4, 2008
...that accountancy firms are some of the most secretive organizations in the world. Information about auditor relationships with companies, conflict of interest, details of the audit team, audit contrac...
Auditors, independence and distance
in Sox First, on May 21, 2008
... when you read through accounts, you come across a "going concern statement'' from the auditors. It's basically a red flag signalling that the company's state is looking terminal....
Enporion completes SAS 70 supply chain audit
in Supplychainer, on May 17, 2008
... Solution provider Enporion announced that it has done a successful SAS 70 audit, an independent auditor's review of its e-commerce supply chain management hosted solutions, Supply and Demand ...
Average 2007 SOX compliance bill: $1.7 Million
in Sox First, on May 2, 2008
...revenues of $4.7 billion. And while compliance costs are actually slipping, that hasn't stopped auditors from cashing in big time. According to the latest Financial Executives International surv...
Auditors and independence
in Sox First, on April 23, 2008
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Auditors take note: from now on, you will have to tell audit committees all about compromising links BEFORE you do any work for them. As expected, the Public Company Accounting Oversight Board ha...
Fewer big corporations getting tax audits
in Sox First, on April 15, 2008
...argest companies are less than half what they were 20 years ago with the number of field audits and auditor hours aimed at the large corporations down 30 per cent and the total of additional taxes the...
How A Gambler Lives On His $26.7 Million Lotto Win?
in The Gambling Weblog, on March 19, 2008
...rate of $1.3 million per year?
He plays slot machines and he took on the IRS.
Image Source:www.auditor.leg.state.mn.us
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PCAOB action
in Sox First, on December 13, 2007
...loitte partner in charge of the Ligand audit, has accepted a two-year ban from association with any auditor registered with the PCAOB. The PCAOB found that Fazio had failed to adequately audit Ligand&...
Restatements: CEO, CFO and top management turnover
in Sox First, on November 16, 2007
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If you are a manager, chief financial officer or auditor working for a company that comes out with a restatement, start looking for another job. That's the only conclusion you can draw from a n...
Accountants and fraud
in Sox First, on November 13, 2007
...ng giant Grant Thornton asked chief financial officers and senior comptrollers whether they thought auditors were responsible for detecting any and all fraud, a whopping 82 per cent answered in the af...
PCAOB slates audits of small firms
in Sox First, on October 26, 2007
...ley deadline for smaller companies, can smaller entities cope when there is an expected shortage of auditors? After December 15, between 13,000 and 14,000 companies will for the first time have to com...
Internal auditor stress
in Sox First, on October 17, 2007
Internal audit teams are being stretched more than ever and they are having trouble finding the right people to fill the gaps, according to a new report. Ernst & Young's Global Internal Audit Survey found that recruiting in key areas is a big problem. Industry, IT, fraud, and busin...
Lessons Learned: VA Makes Some Security Progress
in Networking for Pros, on September 25, 2007
...eased an update to its investigation of a May 2006 data breach at the Veterans Administration. The auditor's updated report notes that the VA has not completed 20 of 22 recommendations made in th...
Subprime meddling
in Sox First, on August 30, 2007
...us approach to mortgage accounting standards so that their clients can renegotiate bad loans. Now, auditors are supposed to be independent gatekeepers and politicians should not be putting them under...
Sun offers identity management course for free
in Java Entrepreneur, on August 10, 2007
...overall identity life cycle. Students will be introduced to the concept of Access Manager, Identity Auditor, Identity Manager Service Provider Edition, Identity Manager, Federation Manager and Directo...
Big threats from KPMG avoided charges
in Sox First, on June 20, 2007
...ry had eradicated Andersen. And they warned that it would leave more than 1000 companies without an auditor, reports Bloomberg . Given that senior US Justice Department officials intervened and KPMG...
Audit rules eased
in Sox First, on May 28, 2007
...iness, not to mention heat coming from Congress and the Bush administration, the board that polices auditors has finally relaxed its contentious standard for auditing public companies. The new eased-...
How to Think Like Warren Buffett, Part 22
in The Personal Finance Weblog, on May 4, 2007
...ont, there would be a variant of this strategy. The golfer, playing alone with a cooperative caddy-auditor, should defer the recording of bad holes, take four 80s, accept the plaudits he gets for such...
Senate rejects move to weaken Sarbanes-Oxley
in Sox First, on April 26, 2007
...es them to run a ruler over their internal controls and have those checks signed off by an external auditor. In response, the Senate unanimously backed moves by federal regulators to fine-tune Sectio...
Fannie Mae: more of the lawyers' picnic
in Sox First, on April 25, 2007
...d at how the Fannie Mae scandal had turned into litigation city with the mortgage giant suing its auditor KPMG and regulators going for the group's former leaders. Now, as expected, KPMG has hi...
Unwinding Sarbanes-Oxley's red tape
in Sox First, on April 19, 2007
...requires companies to check their internal controls and have those checks signed off by an external auditor. In the absence of clear guidelines on what executives needed to check, companies were often...
Mending SOX - more work ahead
in Sox First, on April 7, 2007
...ed, the Securities and Exchange Commission this week moved to finalise guidelines for companies and auditors to comply with Sarbanes-Oxley. This is supposed to mark the final stage of easing the burde...
Auditors and red flags
in Sox First, on March 22, 2007
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Auditors are supposed to watch out for the red flags when they combing through a company's books. Put simply, if you have a number of these flags, the auditor should start having serious doubt...
Interview with Professor Paul M. Healy
in Sox First, on March 6, 2007
... extreme. But one of the structural changes that Sarbanes-Oxley made was the idea that the external auditor not report to management. It was a very positive change, provided the
audit committee conti...
PwC's troubles in Japan
in Sox First, on February 23, 2007
...was formed to carry the PWC brand in Japan. But the restructure did nothing to allay concerns about auditor independence and the structure of Japanese accounting firms. Misuzu audited the accounts of ...
Liability caps ahead
in Sox First, on January 25, 2007
...en lingers. Back towards the end of last year, I did a blog entry on a push in Europe to provide auditors with the protection of liability caps. Then the interim report of Hank Paulson's boys...
KPMG sued for bad numbers on Fannie Mae
in Sox First, on December 16, 2006
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Another one bites the dust. The whining from auditors about getting liability caps is likely to get louder with news that troubled US mortgage finance company Fannie Mae is suing former audit...
Vision of the bean counters
in Sox First, on November 21, 2006
...at include replacing quarterly financial statements with real-time Internet-based reports, relaxing auditor liability and subjecting all public companies to forensic audits on a random basis. ...
Cox flags changes to SOX
in Sox First, on November 20, 2006
...very public company to report on the adequacy of its internal fraud controls and to have an outside auditor do the same, is in for some serious tweaking.
In his speech given last Thursday at an In...
Iraq watchdog lives again
in Sox First, on November 15, 2006
...tle-known clause in a bill signed last month. At the time, I noted that the decision to execute the auditor raised at least four important questions about Iraq. On the face of it, bringing the audi...
Accountants: the oligopolistic gatekeepers
in Sox First, on November 14, 2006
...t services, provided they get prior approval from the audit committee and it does not sunset client-auditor relationships by requiring periodic rotation . Also, there is little evidence that pub...
Updating accountants
in Sox First, on November 12, 2006
...er things, replacing quarterly financial statements with real-time Internet-based reports, relaxing auditor liability and subjecting all public companies to forensic audits on a random basis, you star...
Iraq auditing: shooting the messenger
in Sox First, on November 5, 2006
...pt practices. Blame it on some obscure clause sneaked into a military spending bill terminating the auditor's work. If you want a taste of what the agency was producing, check the agency's w...
Call for liability caps
in Sox First, on October 10, 2006
...d economy, it would have broader implications. The research paper Study on the Economic Impact of Auditors' Liability Regimes argues, that an Arthur Andersen style action against one of the big...
Is Sarbanes-Oxley the global standard?
in Sox First, on September 14, 2006
...ks at the way Sarbanes-Oxley clones have been adopted around the world. In all sorts of areas, such auditor oversight bodies, auditor independence, rules on non-audit services, audit committee require...
Sarbanes-Oxley remakes accountants
in Sox First, on September 13, 2006
Yes, we all know accountants are the real winners out of Sarbanes-Oxley. The changes in the law have been an El Dorado for beancounters, something I have written about here , here and here . But it's not just the extra demand and work that's earning them big bucks. Sarbanes-Oxley h...
Interview with Jim Turley, Ernst & Young global chairman and CEO
in Sox First, on August 26, 2006
Just had a chance to catch up with Jim Turley, the global chief of accounting giant Ernst & young . Here's what he had to say about Sarbanes-Oxley, compliance, remuneration for beancounters, the accounting profession itself and international accounting standards.
Shining the light on corruption
in Audeamus - How dare we..., on August 22, 2006
...rregularities in its post-tsunami shelter operation in Aceh province, Indonesia. It used an outside auditor and recovered $20,000 of $22, 000 paid for construction materials that had not been delivere...
SOX appeal: the net widens
in Sox First, on August 22, 2006
..., like audit committees with independent directors, controls on how many other services the outside auditor provides the organisation, and whistleblower protections, are SOX-inspired....
How To Start Your Own Hedge Fund
in The Hedge Funds Weblog, on August 21, 2006
... contracts and such, at a charge of $400 an hour, or about $30,000 a year. Other gotta-haves are an auditor ($30,000 a year) and an accountant (ditto).
A back-office outsourcer to handle stuff like s...
More transparency for audits
in Sox First, on August 7, 2006
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For a profession that likes to think of itself as transparent, auditors might have some way to go. Particularly when it comes to companies revealing to the market why they have dismissed or...
Accountants: revolving doors, rock stars and gumshoe heroes.
in Sox First, on June 13, 2006
Sarbanes-Oxley has been blamed for many things. Now we're told the pressure of Sarbox is forcing chief financial officers to look for other jobs and contributing to enormous churn at CFO job level, according to a new study from headhunters Russell Reynolds Associates . But lower down the ...
Enron: Long Road Ahead
in Sox First, on May 22, 2006
With the Enron jury set to return from its weekend break today, it's worth looking at what we have learned from the trial.
Harvey Pitt - How to Fix Sarbanes-Oxley
in Sox First, on April 17, 2006
...g profession in the form of the PCAOB, and it mandated that all public companies (and their outside auditors) annually attest to the quality of corporate systems of internal controls. "The forme...
Warning to small caps: be careful what you wish for
in Sox First, on March 28, 2006
...failed to maintain an effective internal control system." And, he says, running two different auditor attestations, one for the big companies and another for the small caps, and two different ac...
Corporate Cock-Ups
in Sox First, on February 28, 2006
.... And one of those customers happens to be Sun Microsystems CEO Scott McNealy. E&Y is Sun's auditor and provides Sarbanes-Oxley consulting for Sun. Well, for now. And if that's not bad en...
The Future of Audit: Risk and uncertainty ahead
in Sox First, on January 30, 2006
... make the profession more insurable (which may involve tort reform and defining the limits of the auditor 's responsibility), developing an alternative disputes resolution process for fights...
Accountants at the crossroads
in Sox First, on January 7, 2006
...e December edition of The CPA Journal has an interesting piece by former General Motors general auditor Eugene H. Flegm on the accounting profession at the crossroads. Flegm says some hard d...
Stretching the SOX dollar: is it value for money?
in Sox First, on January 4, 2006
...ame research shows however that the hit on the share price is less severe if they have a Big Four auditor . Which is cute given the role of the accounting firms in the scandals that led up to ...
Liability caps for auditors
in Sox First, on November 29, 2005
...Wall Street Journal about a "liability cap" agreement between Sun Microsystems and its auditor Ernst & Young. The WSJ piece is available only to subscribers so here's a basi...