What Investors Need To Know About Audits

I provided a keynote presentation on Luckin Coffee and Wirecard for CFA New York and Baruch College on Feb. 22

You can find a replay of the program and a link to my slides here.


  • The Luckin Coffee and Wirecard frauds

    • What particular accounting issues were involved?

  • Why should US investors care about frauds at a Chinese company and German company?

  • Short interest, whistleblowers, and media scrutiny

    • What did the companies do to respond to this criticism?

    • Was it the response investors should expect?

    • When was the fraud acknowledged by the companies?

  • What were the auditors’ responses

    • To short sellers?

    • To media scrutiny?

  • What is the auditor’s role in corporate investigations?

    • Should these auditors have done something different?

  • What’s happening now with the companies and their auditors?

© Francine McKenna, The Digging Company LLC, 2020