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AccMan

Dennis Howlett on innovation for professional accountants


Satyam: Merrill Lynch knew
One of the recurring questions from yesterday’s shock revelations at Satyam was the nagging feeling that someone must have known what was going on. Late last night I started to see reports indicating that Satyam’s investment bankers Merrill Lynch knew what was going on. According to The Times of India: There’s intense speculation as to what [...]
My Diigo Bookmarks 01/08/2009
Adventure of Strategy: Castles of Cards Solid list of things that firms should be thinking about for their own survival tags: strategy FT.com / Companies / Telecoms - Telefónica wins €350m Deutsche Post contract Bringing down data costs eh? What about for consumers? No apparent moves there. tags: telefónica GM’s Regulatory Run-Ins = Taxpayer Money Pit at Emac’s Stock Watch | [...]

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Innovation in billing: the lawyers are eating our lunch
First up in the ABA Journal, Morgan Lewis announces it is ditching the billable hour. Well sort of. It’s de-emphasizing the billable hour as a component driving bonuses for its staff. I’m sure its associates will be delighted, especially when you note that the bar starts at 2,000 hours pa. Given that US lawyers are [...]

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Innovation in audit oversight
I bet you never thought you’d see that as a headline. Neither did I but then Joe Weisenthal’s ‘Nuke the SEC’ post I started to think differently. Let’s start with Joe’s assertions: First, we nuke the SEC. This isn’t really that radical. There’s precious little evidence that it does what it purports to — namely, protect [...]
The Satyam train wreck
Until today, I’m betting most professionals hadn’t heard of Satyam, despite they’re India’s fourth largest outsourcer. All that changed when chairman and founder B Ramalinga Raju sent a letter to the Indian stock exchange and shareholders holding his hands up to a massive fraud that includes $1 billion in fictious cash assets. When I first [...]