Posts Tagged audit malpractice
Autonomy and the “willful shock” that accompanies the strategic termination of willful blindness
Posted by admin in Fraud Recovery, Legal Malpractice on November 28, 2012
Guest Post by Charles Seavey [Ed. Note: I found this article in a LinkedIn industry group. With the author's permission, it is reposted here. Charles Seavey is a lawyer, consultant and writer. He is one of the few folks who writes more articles than I do! Recently I was asked why we post so many [...]
NY Judge Rules Against KPMG In Massive Fraud Suit
Posted by admin in Fraud Recovery on September 11, 2012
by Brian Mahany If we aren’t critical of big banks and mortgage lenders, then we are probably writing about the Big 4 audit firms. Everyday we read another lawsuit or complaint accusing these giants of fraud, negligence or worse. Some claim these big institutions are “too big to fail.” We simply think they have become [...]
Audit Firm Named In Class Action Suit For Failure To Detect Fraud
Posted by admin in Fraud Recovery, Legal Malpractice on August 6, 2012
by Brian Mahany The audit system in the United States is largely broken. The auditors are financially dependent on the very people they are required to audit. If you perform a rigorous audit and get a reputation for not giving clients high markets on their financials you will soon find yourself with no clients. Fail [...]
Another Black Eye For KPMG And The Audit World
Posted by admin in Fraud Recovery on July 9, 2012
by Brian Mahany Japan’s Financial Services Agency ordered KPMG affiliate KPMG Azsa to dramatically improve the quality of their audits. The Japanese regulator had similar words for Ernst & Young ShinNihon as well. This action comes on the heels of one of the worst accounting scandals in Japanese history, last year’s revelation that Olympus, a [...]
More Audit Fraud – Tiny Illinois Town Loses $50 Million!
Posted by admin in Fraud Recovery on June 12, 2012
by Brian Mahany The little Illinois town of Dixon has less than 16,000 residents. Located in rural Lee county, Dixon was best known for being the boyhood home of former President Ronald Reagan. Now it is known for being the city that lost $50,000,000.00. That’s quite a feat considering the per capita income of Dixon is [...]
Win Some, Lose Some
Posted by admin in Fraud Recovery on March 27, 2012
by Brian Mahany We follow large fraud cases against auditing firms. Look no further than this blog for plenty of horror stories about auditors turning a blind eye to corruption and fraud. Unfortunately, the system is broken. How can an auditor truly be independent when he or she is dependent on the client to get [...]
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