“I believe the votes are there whether I like it or not.”
~ Barney Frank, on the House provision that would exempt small and midsized businesses from complying with Section 404.
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In Other Words, Determining AIG’s CDS Losses Was a Big Game of Darts
- Caleb Newquist
- July 1, 2010
“I did not expect actual, economic losses on the portfolio. That said, I was truthful at all times about the unrealized accounting losses and did my very best to estimate them accurately, in consultation with others at AIG-FP, as well as with my supervisors, AIG’s senior accounting staff, and its internal and external auditors.”
~ Joe Cassano, in his prepared testimony before the Financial Crisis Inquiry Commission
Sarbanes-Oxley Lives
- Caleb Newquist
- June 29, 2010
“The Sarbanes-Oxley Act remains ‘fully operative as a law’ with these tenure restrictions excised.”
~ Chief Justice John Roberts, in the Supreme Court’s majority opinion.
Wanted: Big Brothers, Big Sisters for Accountants
- Caleb Newquist
- November 3, 2010
One of the main reasons [for dissatisfaction] is a lack of role models. Half of female respondents said there aren’t enough women at the top to look up to in top management, while only a third of men complained that there aren’t enough males. On the topic of mentors, however, both sexes feel there aren’t enough of them. More than two thirds of both genders said they haven’t had or currently do not have a mentor to support their career. [FINS]