Section 10A of the Securities and Exchange Act of 1934
requires reporting by auditors to the Securities and Exchange Commission (SEC)
when, during the course of a financial audit, an auditor detects likely illegal
acts that have a material impact on...
My column at American
Banker this past Friday, "The Riskiest Careers in Financial Services, Finally Rewarded,"
included a couple of obvious examples of high risk, high reward for this hot new
job title. The largest four US banks have examples...
The PCAOB, the audit industry regulator, shamed
global audit firm Deloitte recently when they exposed the private portion
of the inspection report of the firm's 2006 audits. It was the first time that
had happened to one the Big Four audit firms...
On September 11, 2011, The New York Times
Without Claws," by Gretchen Morgenson. The article meant to highlight a
lackluster enforcement record by the Securities and Exchange Commission (SEC)
on executive pay "clawbacks"...
The topic of audit industry reform is hot again. OK,
that's relative to where you stand on what's hot. But in the world of legal and
regulatory compliance and auditors the only thing hotter would be a significant
development in the New York...
Warren Buffet carefully cultivates a CEO-savant persona.
Most media enable him.
His latest stunt, ostensibly meant to save Bank of
America while closing a savvy deal for Berkshire Hathaway, garnered laudatory
headlines. Bank of America spun Buffett's...
It wasn't even a verdict. Just a decision by New York Federal Court Judge Lewis Kaplan in one Lehman failure cases Ernst & Young is fighting. A decision to allow substantially all of the allegations against Lehman executives and at least one of...