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by leon on November 13, 2007
What's wrong with this picture? When bean counting giant Grant Thornton asked chief financial officers and senior comptrollers whether they thought auditors were responsible for detecting any and...
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by leon on November 02, 2007
Hat tip to Francine McKenna at Re: The Auditors for alerting to us the prospect of entrepreneurial litigation funders threatening to drive auditors out of business.Certainly the case of third party...
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by leon on October 27, 2007
One world, one set of accounting standards? Think again, it's not going to happen that quickly. There's a fair bit of resistance out there not to mention some unresolved issues.According to a...
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by leon on October 26, 2007
With a looming Sarbanes-Oxley 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...
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by leon on October 26, 2007
Iraq remains vulnerable to fraud and mismanagement because no-one seems to know what the hell is going on there.A new report from the Special Inspector General for Iraq Reconstruction (SIGIR) found...
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by leon on October 22, 2007
What impact does it have on CFOs when the company admits it has screwed up and makes a material weakness disclosure under Section 404? Not real flash, according to a new study.The study, The Effects...
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by leon 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...
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by leon on October 15, 2007
Earlier this year, I looked at some of the problems the Public Company Accounting Oversight Board has doing its job.These include, for example, the amount of time that passes between the PCAOB...
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by leon on October 11, 2007
Earlier this month, I looked at Judge Lewis Kaplan raising important questions about the way the US Government was abusing its powers in the prosecution of alleged wrongdoers. Kaplan made...
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by leon on October 10, 2007
The good news is that over the last decade, more than 50 per cent of accounting graduates have been female. The bad news is that they are not moving into senior level position at the same rate as...
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by leon on October 02, 2007
Globalization, changes in risk management, advances in technology, talent and organizational issues, and changing internal audit roles are ranked as the big issues that will reshape internal auditing...
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by leon on October 02, 2007
The prospect of US companies following a single global accounting standard seems to be moving closer with Financial Accounting Standards Board chairman Robert Herz he expects the time is coming when...
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by leon on September 24, 2007
How much can we believe companies that report increased earnings over 20 quarters?A new study, reported in the International Herald Tribune, suggests we should probably take it with a bag or three of...
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by leon on September 15, 2007
In an historically significant move, the Securities and Exchange Commission has charged 69 accounting firms and individuals - 37 firms and 32 audit partners - with violating Sarbanes-Oxley by failing...
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by leon on September 11, 2007
I've talked about how much of a money spinner Sarbanes-Oxley has been for accountants.But they work for it too.New research from Robert Half shows that finance professionals are putting in longer...
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by leon on September 10, 2007
The fallout from Dell's accounting shell games continue.Now, Dell boss Michael Dell has told a Citigroup technology conference in New York that he had nothing to do with it. "I was not...
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by leon on September 07, 2007
For the last two years, I have been talking about how Sarbanes-Oxley has been a licence to print money for the accounting profession.Examples are here and here.And now the latest Rosenberg MAP...
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by leon on August 30, 2007
As a breed, politicians never cease to amaze me. Short-sighted, self-serving and sometimes, just totally clueless.A very good example is Senator Chuck Schumer's attempt to lean on the Big Four...
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by leon on August 27, 2007
It's finally happened. The Public Company Accounting Oversight Board has been conducting inspections of audit work for a few years now. At last, we have good analysis of the kind of audit...
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by leon on August 24, 2007
I have long maintained that Sarbanes-Oxley has been a licence to print money for accountants.If you needed any further evidence, these findings from the Corporate Library reported here are further...
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by leon on August 17, 2007
It has not been a great year for Dell. In January, Michael Dell took the reins again, turfing out Kevin Rollins. And from there, things started going from bad to worse.In March, I said that an...
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