“[It will] help prevent another financial crisis like the one that we’re still recovering from.”
~ President Barack Obama on the financial reform bill.
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Business as Usual at the SEC
“The SEC at least knew of this issue and tried to inquire when they could.”
~ Don Whalen, AuditAnalytics.com’s director of research, is referring to the Commission’s knowledge of repurchase agreements used by various companies as early as 2004, but could easily be talking about Bernie Madoff.
The Smartest Service Businesses in the Country Are Accounting Firms, Says Some Lawyer
In a Bloomberg Law article that looks suspiciously like a thinly-veiled advertisement for Philadelphia law […]
Quote of the Day | 01.19.10
“Audits are of limited usefulness – the scope of work is so small and is done in such a compressed time, usually at the end of the year. And the work that auditors do is predictable.”
~ Tracy Coenen, of Fraud Files Blog, in regards to the how Sue Sachdeva allegedly pulled off a $31 million embezzlement at Koss under the nose of Grant Thornton (Steve Chipman may need a pair of these to drown out the attorneys). [Milwaukee and Southeastern Wisconsin Business News]