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Crossposts: Two from Deep Quarry
Olga Usvyatsky has been on a tear, with two new posts, about long SEC comment reviews and what's in all those amended 10-Ks. I've got some additional…
Apr 11
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Francine McKenna
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Crossposts: Two from Deep Quarry
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Epilogue: A brazen disregard for public duty
There was more to the story, and a lot to learn, from an enforcement action against EY nearly 20 years ago to the day
Apr 7
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Francine McKenna
4
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Epilogue: A brazen disregard for public duty
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A brazen disregard for public duty: PwC's latest auditor independence mess
Not hard to figure out who the complicit audit client, now business partner, is. But the PCAOB, and SEC, can't be shocked by this virtual insanity…
Apr 6
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Francine McKenna
8
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A brazen disregard for public duty: PwC's latest auditor independence mess
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Born yesterday: The mismatch between fundamentals and share price started long before DJT
On the other hand, Donald Trump has certainly been a bad influence on investors', and citizens', perceptions of reality for a very long time..
Apr 1
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Francine McKenna
10
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Born yesterday: The mismatch between fundamentals and share price started long before DJT
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March 2024
Cross-post: Are companies complying with the new SEC compensation clawback rule?
Deep Quarry does a deep data dive and sees 103 companies have noted that financial statements were corrected. Only one company said an exec comp…
Mar 28
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Francine McKenna
2
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Cross-post: Are companies complying with the new SEC compensation clawback rule?
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There's a deluge of news about accounting: ADM, Chemours, Caterpillar, Autonomy, and Evergrande
Feels like I'm the little Dutch boy sticking a finger in a busted dike to stop the flood, but the news keeps on coming anyway.
Mar 20
•
Francine McKenna
4
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There's a deluge of news about accounting: ADM, Chemours, Caterpillar, Autonomy, and Evergrande
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Private equity sings the siren's song; Grant Thornton answers
Grant's leadership provides no specifics about what it will spend the money on, sticking to conspicuous vagueness. That's better for retaining the…
Mar 18
•
Jim Peterson
3
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Private equity sings the siren's song; Grant Thornton answers
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Singing for your supper: Defending audit firms and auditors
We've all got to make a living but some of us are more intellectually consistent about it.
Mar 14
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Francine McKenna
8
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Singing for your supper: Defending audit firms and auditors
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Cross-post: More on SEC comment letters and Tesla's tax accounting
SEC comments on tax valuation allowance are uncommon and may lead to changes in accounting.
Mar 11
•
Francine McKenna
and
Olga Usvyatsky
3
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Cross-post: More on SEC comment letters and Tesla's tax accounting
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The Bankers' New Clothes: An interview with Stanford's Anat Admati
New bank failures prove you were naive to believe banks were reformed after the Global Financial Crisis and that we’d never again have to choose between…
Mar 6
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Francine McKenna
9
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The Bankers' New Clothes: An interview with Stanford's Anat Admati
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February 2024
Cross-post: SEC inquiries may explain Tesla's release of $5.9 billion tax valuation allowance
SEC issued comment letters to Tesla questioning its accounting for a deferred tax valuation allowance. The SEC was on the case one day after an earnings…
Feb 27
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Francine McKenna
15
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Cross-post: SEC inquiries may explain Tesla's release of $5.9 billion tax valuation allowance
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Monday morning sure looks fine: Mattel, pillow talk, more mistakes, Trump, Reddit IPO, and Autonomy on my mind
I rested up over the weekend after a great trip to New York, worked on my lectures for Univ of Miami, but news marches on.
Feb 26
•
Francine McKenna
10
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Monday morning sure looks fine: Mattel, pillow talk, more mistakes, Trump, Reddit IPO, and Autonomy on my mind
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