Coming to America: IFRS for U.S. companies
Most corporate accounting and finance people are heavily engaged this time of year slogging through audits and preparing data for tax returns. The furthest thing from their minds are huge changes in accounting standards now lurking at the SEC. And I don’t mean the Southeastern Conference.
Wanted: A Whistleblower Statute for Bank & Securities Fraud
The case of French bank Société Générale, in which a single trader’s off-the-reservation trades cost the bank €4.9 billion ($7.2 billion), highlights a systemic control weakness in global financial markets. No system of regulation, operated from outside and above individual companies can be expected to corral determined fraudsters on a timely basis. Friday’s Wall Street […]
Fed Soothing Markets?
When the WSJ Online runs a headline like the one below, you can be pretty sure that whatever the Fed has done hasn’t soothed the markets. More soothing news at the Wall Street Journal Online.