Busting the myth about auditors and fraud One question I get all the time is, "Are auditors obligated to detect fraud?"
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Introducing Ozy Media: Following the formula of "fake it until you make it" then collapse in alleged fraudThis time the pitch was "bland Black media," creating a powerful dose of “stars in their eyes” for media and investors.
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Paper Tigers: If Chinese companies are kicked off U.S. exchanges will anyone notice?Gary Gensler may finally do what U.S. law has allowed for twenty years - delist Chinese companies that won't cooperate with U.S. regulators.
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The PCAOB hasn't published pandemic period audit inspection results yet but PwC promises nearly zero defectsPwC was in the hot seat after results deteriorated for 2019. But overnight improvements in audit inspection results are not that easy to achieve.
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Coinbase and its SEC-registered broker-dealers: Are they ready for prime-time? Coinbase matches crypto trades and holds those assets for customers. Why resist securities?
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To be regulated or not to be regulated? The Coinbase question Coinbase is resisting, on principle, almost every regulatory encroachment. How long can this go on?
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If markets move on stories and momentum, who needs an audit?Until something goes wrong, hardly anyone reads the 10-Ks or wants an audit
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An exclusive interview with auditing whistleblower Mauro BottaMauro Botta sued PwC alleging the audit firm terminated him for blowing the whistle to the SEC. He lost his case but his experience provides plenty of …
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Magnetar does SPACs, in a big way, with a sprinkle of star powerA magnetar is a type of neutron star believed to have an extremely powerful magnetic field. Magnetar Capital uses its magnetic powers to attract a big …
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Berkshire Hathaway hears from the SEC about goodwillIt's a small win but a significant one. Watch this space...
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Watchdog Research: Why Are Companies Using 10-K/As to Disclose Bad News in 2021? How do companies sneak in bad news hoping the share price doesn't react and why are SPACs doing it so often lately?
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McKenna speaks at the AAA Ethics SymposiumI presented twice, on our KPMG/PCAOB teaching case and on auditors as whistleblowers
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