Last week, Reuters printed an interesting and enlightening interview with Steven Thomas, the managing partner of Thomas, Alexander & Forrester … an attorney known for suing large auditing firms for malpractice… and winning! Recent big wins include $520 million and […]

What is a company to do when it wants to hide losses? Manipulation of the financial statements is the obvious first choice. It’s not hard. Sure companies have “internal controls,” which are supposed to include policies and procedures which ensure […]

In July, critics attacked Groupon (GRPN) and it use of a made-up accounting measure management called Adjusted CSOI. I suggested that the company made up the measure to exclude many of the company’s expenses to make the company look more […]

The current issue of New York Magazine has a lengthy story about the collapse of Lehman Brothers. To cut to the chase: Management knew in June that the company was in serious, serious trouble. Which leads me to ask when […]

PricewaterhouseCoopers LLP (PwC) and Ernst & Young (E&Y) have been chosen by the United States Treasury to help oversee the $700 billion bailout plan. CFO.com reports: