When the company is Satyam and the auditor is PriceWaterhouseCoopers it means that folks are getting arrested - in this case, S. Gopalakrishnan and Srinivas Taluri, PWC's Satyam account reps in Hyderabad. All I want to know is, what does Francine think?

-- MDT

Labels: audit, PWC, Satyam

And the questions turn to bank auditors...

Labels: audit, Jerome Kerviel, Societe Generale

Let brand new FOB (friend of the blog), Mr. Tom Selling over at The Accounting Onion tell you all about it.

-- MDT

Labels: Arthur Andersen, audit, SEC, Worldcom

This is more fall-out from the seemingly endless audit of the city and its attendant pension scandal. The SEC has brought charges against five former San Diego officials - City Manager Michael Uberuaga, former Auditor Ed Ryan, former Deputy City Manager Patricia Frazier, former Treasurer Mary Vattimo and former Assistant Auditor Teresa Webster. Further details here.

-- MDT

Labels: audit, Kroll, San Diego

Also missing, you might imagine, is a bit of the agency's dignity. But the 160 laptops lost or stolen over the last four years (including some from counter-terrorism and counter-intelligence divisions) is actually down by about HALF from the preceding audit period, when 317 laptops walked out the door or got lost behind the water cooler.

So, um, I guess good work guys...

Due to the recent Veterans Afffairs laptop disappearance and related identity theft concerns, the Federal government issued a directive back in June of '06 that within 45 days all civilian agencies would be required to institute laptop security measures. So far compliance is at about 10%.

You can get the full story (both the '07 and '02 audit reports) over Justice Department's Office of the Inspector General. The '07 report is only available as a PDF at present. There is an HTML version of the '02 report, found here.

-- MDT

Labels: audit, FBI, identity theft, laptop security

How deep does the scandal go? Like, really deep would be the answer. A sample from the Spiegel article:

....the company had to wire €418 million in fines to the European Commission last week because, according to EU authorities, Siemens was a ring leader in a cartel of companies selling power station equipment -- dividing up the market among themselves. Though Siemens is planning to fight the fine, it took a huge chunk out of the company's first quarter profits.

More here.

-- MDT

Labels: audit, bribery, corruption, Siemens