“Big Four” Audit Oligopoly Expands Global Reach Further by Don Quijones • Aug 12, 2018 • 19 Comments But in some jurisdictions, they’re under-fire after a series of sudden corporate collapses.
PwC Hit with $625 Million in Damages for Negligence in Bank-Fraud Case Brought by the FDIC by Wolf Richter • Jul 2, 2018 • 63 Comments When it gets too complicated for senior auditors, send in a “college-aged intern.”
Multi-Decade Outsourcing Boom Comes to Sticky End in the UK by Don Quijones • Jun 21, 2018 • 46 Comments After scandals, collapses, and the government’s off-balance-sheet debt.
Big Four Audit “Oligarchy” Comes under Scrutiny in the UK after Corporate Surprise Collapses by Don Quijones • Jun 19, 2018 • 36 Comments The “oligarchy” controls the standard-setters, ensuring rules of the game suit it. The long reach of the bean counters also extends deep into the heart of government.
After a String of Corporate Scandals & Collapses, “Big Four” Accounting Giants Face Breakup in the UK by Don Quijones • Apr 9, 2018 • 19 Comments UK regulators may be on the verge of doing something right, but doubts remain over how genuine their stated intentions are.
“It’s Not only Carillion that’s Built on Sand, it’s our Whole System of Corporate Accountability” by Don Quijones • Feb 25, 2018 • 51 Comments The construction & services giant collapsed even as KPMG signed off on its financial statements; now they deny any responsibility.
Crash of Outsourcing Giant with 70,000 Employees Globally Sparks New Panic by Don Quijones • Feb 2, 2018 • 51 Comments “Not another Carillion,” says UK government to soothe frazzled nerves, as entire industry is teetering.
Fallout from Carillion Collapse Hits KPMG by Don Quijones • Jan 27, 2018 • 44 Comments Next Arthur Andersen? No, the “Final Four” audit firms are “too big to replace.”
Collapse of Construction Giant with 43,000 Employees Globally Sparks Fear and Mayhem by Don Quijones • Jan 15, 2018 • 60 Comments “The company that runs Britain”: profits were privatized, costs will be socialized.
Fed Pays Banks $30 Billion for 2017 by Wolf Richter • Jan 10, 2018 • 78 Comments At taxpayer expense: easiest, risk-free, sit-on-your-ass profit ever.
