good morning. The attached IIA practice advisory was (partially) written to encourage internal audit functions to consider what their stakeholders want...
5465
Dan Swanson
dswanson_2008
Apr 3, 2011 6:23 pm
Have a Strong Third Act http://www.theiia.org/blogs/jacka/index.cfm/post/Have%20a%20Strong%20Third%20Act Making Mistakes and Poor Decisions Because of Old...
5466
Dan Swanson
dswanson@...
Apr 3, 2011 7:22 pm
There were numerous emails over the past couple of weeks - wanted to repeat Larry's submission one more time (see below). Why Isn't Wall Street in Jail? ...
5467
Tim Leech
timleech@...
Apr 3, 2011 7:53 pm
Dan: Coincidentally I just posted a Twitter post that points to one of the most damning reports I’ve seen posted by a PCAOB advisory group on the PCAOB site ...
5468
Marks, Norman
nmarks2
Apr 3, 2011 7:59 pm
And I posted about the House of Lords report on my blog. Norman ... Norman Marks, CPA, OCEG Fellow Vice President, Evangelist SAP From: Tim Leech...
5469
wayne ford
wdford@...
Apr 3, 2011 8:19 pm
This post nicely demonstrates the total lack of understanding about what actually caused the credit crunch. There is huge angst in the western world about the...
5470
Dan Swanson
dswanson_2008
Apr 3, 2011 8:30 pm
This is an interesting paper. RISK MANAGEMENT & CORPORATE GOVERNANCE By Richard Anderson & Associates http://www.oecd.org/dataoecd/29/4/42670210.pdf ... ...
5471
Jay Somasundaram
j.somasundaram@...
Apr 3, 2011 11:30 pm
Fascinating set of related threads. It seems that we are missing two key issues: 1. I recall a discussion on this list some months ago, where it was...
5472
Mike Corcoran
michael.corcoran@...
Apr 4, 2011 12:18 am
Fraud implies intent and I would suggest most commercial and residentials borrowers intended to have thriving businesses and robust jobs to meet their ...
5473
Dipak Shah
dipak_98
Apr 4, 2011 12:40 am
Mike – Agree with your point of view that there has to be an intent in our for fraud to take place, otherwise the error is called a ‘mistake’. Tim –...
5474
Jay Somasundaram
j.somasundaram@...
Apr 4, 2011 1:09 am
“and then they refused to repay it – in civilised countries, this is called FRAUD.” Actually, Wayne, in civilised countries it is called Standard...
5475
Ramki - PKF S&S
ramki@...
Apr 4, 2011 1:22 am
Nassim Nicholas Taleb, author of Black Swan has given a 10 step plan for a robust Black Swan society. nOne of the rules is Œeliminate agency problem¹. nThis...
5476
Marks, Norman
nmarks2
Apr 4, 2011 1:31 am
One of the points in the Lords report (see my blog at www.theiia.org/blogs/marks) is that while the external auditors did what they were paid for - an audit...
5477
Ramki - PKF S&S
ramki@...
Apr 4, 2011 1:34 am
Œif we really do our job, we won¹t have a job any more¹ I love this! My penny¹s worth on this subject: Goizueta of Coca Cola said: ³My job is to make The...
5478
Richard Archer
richard.archer@...
Apr 4, 2011 2:26 am
Jay, Your point on fraud definition in response to Norm is on target for at least that portion of the breakdowns that seem to have occurred at every point in...
5479
Richard Archer
richard.archer@...
Apr 4, 2011 4:05 am
Regarding the role of the auditors in the financial crisis, a good place to go for consistent analysis that goes back to 2007, before the worst of the crisis...
5480
Debashis Gupta
deb_gup
Apr 4, 2011 5:06 am
Carol: Bull's eye! Looks to me sometimes as if we're on a 'mandate hunting' spree, which may lead to multiple rounds of efforts to 'distill' our mandate....
5481
Malcolm Schwartz
malcolmschwartz@...
Apr 4, 2011 12:16 pm
Thank you, Mike. I do not thinbk borrowers -- as a class, or even as individuals -- schemed to induce lenders to create mortgages that lured the borrowers on...
5482
Mark Toomey
markjtoomey
Apr 4, 2011 12:44 pm
Hmmm. I just finished re-watching “The Smartest Guys in the Room”. Seems to me that if Wayne’s logic were applied to that situation, the real culprits...
5483
Miller, Bruce
bruce_miller@...
Apr 4, 2011 1:36 pm
Gents - from a personal perspective, the auto-foreclosure process shows a tremendous lack of adequate controls. On a personal note my brother's home was...
5484
wayne ford
wdford@...
Apr 4, 2011 2:41 pm
You miss the point completely, Mark. The Enron customers agreed to pay a reasonable price for a reasonable product, and they paid up but got shafted. Contrast...
5485
Dipak Shah
dipak_98
Apr 4, 2011 3:03 pm
Mark, “Meanwhile – can anyone convince me that the behaviour at Enron was materially different from that on Wall Street and in London’s fabled...
5486
David
tateatty
Apr 4, 2011 4:01 pm
I would like to start following, at least a little, new cases and legal developments relating to information security and privacy. I would appreciate it if...
5487
Chris H. Dunn
chrishdunn@...
Apr 4, 2011 4:15 pm
David, Attached is a blog written by a Canadian privacy lawyer you may want to check out. http://brianbowman.ca/ Also, of recent interest in the privacy area...
5488
Dan Swanson
dswanson_2008
Apr 4, 2011 4:48 pm
In This Issue: - Aargh... - April 29th Webinar - Who Does Quality Assurance? - Mark's March webinar available for downloading - Truth Picks on Kindle & iPads &...
5489
Richard Archer
richard.archer@...
Apr 4, 2011 4:50 pm
Wayne, Perhaps Mark’s analogy is off target, but the “blame the original borrowers” approach is much too simplistic in assigning responsibility and gives...
Amen Richard ... Amen Richard On 4/4/2011 9:50 AM, Richard Archer wrote: Wayne, Perhaps Mark’s analogy is off target, but the “blame the original...
5492
Michael_Geiger-Wolf@...
Apr 4, 2011 6:23 pm
Keep in mind that the article suggests the employee has a right to privacy. That is not the case as the employer was found to have the right to examine the...
5493
Dipak Shah
dipak_98
Apr 4, 2011 7:00 pm
Richard, Very well articulated and you have captured the entire value chain and respective breakdown of our financial mortgage industry very well. Sad news is...
