In response to ’s short report, Adani Group said it has a policy of using “big 6” auditors
Yet after acquiring some British companies, it shifted the auditor from Deloitte to one outside the ranks of the 10 biggest in the UK
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Two words: Must. Read.
10 Foot risks his freedom and his life nightly. Why?
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Something for everyone? EY considers handing retired US partners cut of proceeds from spin-off
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Lord Johnson of Marylebone - brother of former UK PM - resigns from Elara Capital, a small investment bank (based in Marylebone) as it comes under scrutiny for its alleged ties #Adani, following short-seller allegations against the Indian group ft.com/content/1a5b9a?
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Hindenburg vs Adani: claim and counterclaim
KPMG's UK profit numbers are out. They are up, despite all the fines. Story by
Starting today, I’m the FT’s Asia Financial Correspondent, based in Hong Kong. Here’s me exploring at the weekend…
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What The Meme Stocks Did Next...
(Clue: not all fundraising necessarily benefits shareholders) with via
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"The advent of human-sounding robots really exposes robot-sounding humans."
What a great opening line to this column on the Big Tech layoffs — and the terrible layoff memos written by their CEOs.
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EY Germany to axe hundreds of jobs in cost cutting push post-Wirecard, pre-split. Story by &
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Delegations from Michigan, Georgia, Ohio and other states have toured Europe touting Biden's green subsidies to lure clean tech manufacturing
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‘A investigation based on leaked emails and documents, as well as corporate records, export certificates and interviews, demonstrates how Prigozhin used corporate lawyers around the world to try to keep western governments at bay.’
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Accounting firm CEOs, bankers… can put you in touch if you’re interested.
RSM International boss open to conversation on accounting merger
“The steepest reductions have been in fees paid to a variety of investment banks and consulting firms such as McKinsey and BCG.”
UniCredit chief executive Orcel ruffles feathers by slashing bill for consultants
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“You think everything’s one big honey pot.”
“No, YOU think everything’s one big honey pot.”
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EY could have stopped Wirecard fraud earlier, says judge
"Musk’s lawyers argued the term 'funding secured' did not imply the CEO had secured funding."
Elon Musk made ‘split-second’ decision on Tesla tweet after FT story, lawyer says. Court report by
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Glen Littleton, the lead shareholder taking Elon Musk to court, just told jurors he is an FT subscriber and that it was "affordable". That's under oath, folks
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"The finance organisation is key to putting discipline, rigour and professionalisation around ESG reporting.”
With new disclosure rules looming, accountants wrestle for control of climate data
We could see a pick up in impairment charges this #earnings season, don't ignore them. "Management will tell you it's non-cash, it's one-time, don't worry about it." But it can impact results and change investor expectations.
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Disagreements between PwC and Evergrande include the restructuring timetable and assessment of relevant disclosures. PwC also said the developer did not provide enough details on an investigation related to the company’s EV unit.
Big Four accountants in Spain probed over long hours
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Madness is asking your smart speaker for the same thing over and over and expecting the correct result.
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What's going on in China looks like it's not even a U-turn on COVID, it's a V-turn on COVID
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Enron, Madoff and now FTX: New York’s Belfer family strike out again. Story by
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EY take on the crypto winter: “There will be no lessons learned from FTX.” (Also, “y’all need more audits”.)
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I was at a conference last month where the SEC's chief accountant encouraged companies to consider using the direct method!
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The CPA Evolution is mostly bad news from a content standpoint: BEC is gone, AUD is harder, TCP is all the difficult tax topics that were removed previously. One good change is the direct method is finally gone from the exam. No companies use it. #smallvictories
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Musk, FTX and the politicisation of everything, by
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SEC sues Gemini and Genesis over crypto asset-lending programme
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Sullivan & Cromwell’s role in FTX bankruptcy under rising scrutiny
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Great column here. "Second-hand pessimism" is an important concept for investors and business leaders to consider as they prepare for the year(s) ahead.
The problem with CEOs and second-hand pessimism
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“He has to focus on crypto. He has no choice.”
Wall Street’s top cop trains his sights on crypto. profiles Damian Williams, US attorney for the SDNY
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Paul Munter has been tough on the audit profession, saying it is not doing enough to uncover fraud and laying down the law on conflicts of interest. Now he gets the SEC chief accountant job on a permanent basis.
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Deloitte agrees deal to sell UK pensions unit to Isio
Four US senators question Sullivan & Cromwell’s role in FTX bankruptcy
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A lot of talk about deficient #audits by Big 4 #accounting firms. Want to know what they are getting wrong? Check out my summary here (based on #PCAOB 2021 inspection reports). #corpgov #quality
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