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KPMG and Silicon Valley Bank: Federal judge says case will go on for KPMG, who faces a trial if there's no settlement
You can bring an auditor to court, but it has been much harder to bring it to justice. Fortunately, the plaintiffs attorneys are getting very good at…
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Francine McKenna
Waving flags: CrowdStrike and Chime
Flag Day always brings memories of strawberry shortcake with Cool Whip and candles.
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Francine McKenna
Crosspost: Despite the name, companies use accounting tactics that assign a lot of certainty to UTPs
Companies disclose little, reserve less, and often bet big on prevailing in material tax disputes over uncertain tax positions. Auditors feign concern…
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Francine McKenna
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Olga Usvyatsky
Banks lend to Elon Musk but demand tons of Tesla shares as collateral
Excessive collateral requirements may signal high perceived risk, but Tesla’s board seems to be enabling Musk to borrow much more against shares than…
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Erik Sherman
Summer book edition, part 2
I decided to go through my shelves to highlight new and older books that are related to the things I write about. Have a great summer! Here's Part 2.
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Francine McKenna
A PCAOB update and something about deceiving auditors
Here's a bit more about the efforts, futile I think, to save the PCAOB and an exercise in memory to recall when, if ever, anyone has been really…
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Francine McKenna
4
Summer book edition, part 1: Some books to read to open your mind
I decided to go through my shelves to highlight new and older books that are related to the things I write about. Have a great summer! Here's Part 1.
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Francine McKenna

May 2025

Hype Man: Marc Metrick's Saks is a cluttered closet full of discounts
Selling deals is a hype game. Disclosure rules are loose and going to get looser. But gatekeepers — lawyers, investment bankers, and Big 4 global audit…
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Francine McKenna
All KPMG: Failed banks, Foot Locker, and Skechers
KPMG may be the Big 4 firm with the most bank audits but it also has significant exposure to retail, sneakers to be specific and, therefore, to the…
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Francine McKenna
Grab bag: Stories about the PCAOB, BDO and AmTrust, Microsoft-Activision, Theranos Dos, Ripple, BRK, and Skechers
Here are 5000 words plus, but it's just a tease for my next in-depth newsletter about Skechers, exclusively for paid subscribers.
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Francine McKenna
Warren Buffett says he's stepping down, but I wouldn't count him out of the limelight yet
Buffett is an attention hog who didn't even tell his new CEO he was stepping down. He will undoubtedly stay in the picture until he absolutely can't.
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Francine McKenna
My first accounting job: Rob Warren
Rob is a career-changer! He worked in an industry that is crucial for public safety. We have "fire" in common.
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Francine McKenna
© 2025 Francine McKenna
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