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June 2025

Seeking clarity: Omnicom, BAC and FleetBoston, Alteryx, BRK, and Circle
There's more than one answer to these questions, but here are some of my opinions.
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Francine McKenna
Friday round-up: Up next in audit regulation, more cheating, Chinese frauds
It's a dreary Friday in Philly and I've got a whole lot in store for you today and, for paid subscribers, tomorrow.
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Francine McKenna
2
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
 and 
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

© 2025 Francine McKenna
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