Accounting Profession

Gallup Poll Provides Food for Thought I have previously blogged about the ethics and honesty of those who work in various professions based on a 2023 Gallup Poll. Gallup published its 2023 results of a survey of honesty/ethics in the professions last year. The results speak volumes about which professions are trusted by most Americans. The most ethical […]

A Conflict of Interests The PwC-Australia tax scandal was caused by a conflict of interest between PwC’s work advising the Australian government on tax laws and its work advising corporations on how to avoid those laws. This conflict of interest came to a head in 2015, when PwC leaked secret Australian Government tax plans to corporations, including Google,

SEC Comes Down Hard on Marcum LLP On June 21, 2023, the PCAOB sanctioned Marcum LLP for violating PCAOB rules and quality control standards by failing to take sufficient steps to ensure that its system of quality control provided reasonable assurance that: (1) the firm would comply with the requirements regarding the acceptance of issuer

Missing the Red Flags I have previously blogged about the collapse of SVB and the Signature Bank. In today’s blog, I will update the information and probe more deeply the failings of regulators and KPMG to heed the warning signs that trouble lied ahead. The collapse of Silicon Valley Bank (SVB) and Signature Bank, reminds me of

Where Were the Regulators? The collapse of Silicon Valley Bank (SVB) and Signature Bank, and a smaller firm, Silvergate Capital Corp., reminds me of the stream of bank failures since the 1970s that have created concerns about the ability of bank officials and regulators to oversee the liquidity and risk-taking activities of banks and other