Accounting & Financial Analysis News by GLG Council Members
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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August 22, 2009
A need to reconnect | www.ft.com
The current financial mess was created by a group of bumptious individuals. We can’t continue to do business as usual or hide our heads in the sand hoping it will go away by itself. Or, allow the individuals that propagated the mess to correct it or create a new disaster.
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Ongoing HMRC Data Security Issues
August 18, 2009
ICO: HMRC breach - where were the tech safeguards? | www.silicon.com
It seems that there are still security issues wrt HMRC. It is regrettable but HMRC still don't seem to "get" data security.
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De Beers Finances - The Dangers of EBITDA
August 17, 2009
De Beers Finances, Contd. | www.jckonline.com
To rely on EBITA and highlight it to one's shareholders/bankers is at best misguided, at worst misleading.
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Nitish GroverPrincipal, OwnerNitish Grover and Associates
CDS Regulation , Accounting and Economic Effects
August 16, 2009
Derivatives Plans Spark Doubts on CDS | www.ft.com
CDS have created problems for some time now. The proposal to regulate CDS over the counter sales will in my opinion create more problems than it will solve. This is especially in the context of the triple regulation suggested - SEC, CFTC and a dispute regulatory mechanism for the turf between the two bodies. In this analysis I look at the accounting and economic problems that this will create.
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Characteristics of an Effective Audit Committee
August 14, 2009
Internal Auditors: Mission Unaccomplished? | www.cfo.com
The effectiveness of the internal audit function is derived from the effectiveness of the audit committee. Where that committee is ineffective the internal audit function will wither and die. Here I summarise what, in my opinion constitutes, the top ten characteristics of an effective audit committee. This list is not intended to be exhaustive. However, it can be used as a starting point to establish an effective and respected audit committee that adds value to the business.
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August 13, 2009
In House Fraud Cases Surge | www.ft.com
Scandals, frauds and mismanagement are occurring in organisations ranging in size from the small to the multi national. The solution to the global economic and ethical meltdown, in my opinion, is common sense and are listed in my article below. Why not stop delaying and just let’s get on and implement these changes now!
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Attributes of a World Class Internal Audit Department
August 12, 2009
The Added Value of Internal Audit, a Brief Overview | news.glgroup.com
How does your internal audit department measure up to my top ten list?
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The Added Value of Internal Audit, a Brief Overview
August 11, 2009
Risk Management and The Value Added by Internal Audit | www.icaew.com
The internal audit department should tell the Board: - when the company is being poorly managed, - where risks are not being identified or mitigated and - when the business objectives are not likely to be met.
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August 10, 2009
Ten Reasons Frauds Occur | news.glgroup.com
This is my personal top ten, based on personal experience, there are many other types of frauds that have been, and are being, perpetrated. You have been warned!
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Louis BuchmanPartnerFIELD FISHER WATERHOUSE
EADS Insider Trading: Are Lagardère and Daimler scott-free?
August 5, 2009
Lagardère and Daimler not implicated in the EADS investigation | www.agefi.fr
Insider trading in France is a felony giving rise to 2 possible actions, one at the Financial Markets watchdog agency level (AMF), the other in court. Case law is scarce but precedents exist. The outcome of the AMF action will not mean the end of the criminal investigation phase, and has no direct bearing on the eventual outcome of a court case.
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