Commentary on fraud, scams, scandals, and court cases.
 

Tag: deloitte & touche

Auditing & Regulations, Public Companies

Navistar v Deloitte: Blame the Auditors for Fraud Committed and Concealed By Employees

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In cases of corporate fraud, including embezzlement, financial statement fraud, earnings management, bribery, and the like, it’s easy to blame the auditors. After all, they have very deep pockets, often with large malpractice policies. Even though the task of auditors is usually well-defined and agreed-to by shareholders, management, and the …

Financial Investigations, Public Companies

More Evidence of Fraud at China MediaExpress Holdings

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UPDATE: In March 2011, CFO Jacky Lam of China Media Express and the auditors (Deloitte) resigned. Deloitte said they could no longer rely on the representations of management, and they suggested an investigation was in order. Ping Luo, the analyst from Global Hunter who gave CCME rave reviews resigned. Maurice …