All GLG News Analyses Filed Under: Audit & Forensic Accounting
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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Anthony CatanachDirectorDI2 Associates, LLC
What Have the Accountants Done For Us Lately?
November 19, 2009
Systemic risk legislation threatens FASB’s independence | www.accountingweb.com
Debates about the causes of the recent financial crisis have yet to focus on the inability of financial institution independent auditors to provide adequate oversight over management’s valuations of financial instruments.
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Nitish GroverPrincipal, OwnerNitish Grover and Associates
The Economic Downturn and Revival - Challenges for Accountants and Auditors
November 12, 2009
Failed financial firms:The bust that worked | www.economist.com
The referred article speaks of the bankruptcy reorganization plan of one Institution. In this analysis I take the referred Institution as a referral point to examine/highlight the challenges which accountants and auditors will face in their stewardship and attest function.
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Nitish GroverPrincipal, OwnerNitish Grover and Associates
Offshoring - Changing Accounting Dynamics - Auditing and Control
October 8, 2009
The New Calculus of Offshoring | www.cfo.com
Increased overseas costs, security dynamics and the sudden availability of newly jobless employees has changed the offshoring dynamics. Offshoring continues but the repetitive tasks with high risk and control difficulties are getting out of the offshoring matrix. In this analysis I look at the effects of these changing dynamics in relation to auditing and control factors.
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Bank of America and The Lesson of Parmalat
September 15, 2009
Bank of America liable for fraud, judge told | www.thestar.com
Parmalat (once Italy’s largest dairy company) was "Europe’s Enron".In my experience, fraud and corruption in an organisation can only be rooted out if my “five principles of good governance” are followed.When something stinks, you open the window and throw it out.
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Nitish GroverPrincipal, OwnerNitish Grover and Associates
Tax Fudges and Financial Reporting - The Paradigm - Accounting Standards Context
August 25, 2009
Closing the Havens | www.ft.com
Tax havens have represented security against political repression for long. They have also with the evolution of tax laws become a pain for Governments. This is especially with the growth of acceptability of the right of the State to levy taxes. The recent developments with Tax Haven authorities agreeing to divulge confidential information raises questions for the accounting profession. In this analysis I look at issues that these developments raise for the accounting and auditing profession.
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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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Most Popular Audit & Forensic Accounting News
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What Have the Accountants Done For Us Lately?
November 19, 2009
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The Economic Downturn and Revival - Challenges for Accountants and Auditors
November 12, 2009
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Offshoring - Changing Accounting Dynamics - Auditing and Control
October 8, 2009
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Bank of America and The Lesson of Parmalat
September 15, 2009
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Tax Fudges and Financial Reporting - The Paradigm - Accounting Standards Context
August 25, 2009