Back in November, 2008, Deloitte sued its former vice chairman for trading in securities of the firm’s audit clients. The SEC has filed its case against Thomas Flanagan and included his son, Patrick Flanagan. The SEC alleged Flanagan traded in the securities of multiple Deloitte clients on the basis of inside information that he learned … Read more »
Tag: Deloitte
Deloitte’s Year End Reporting Issues: An Update on Current Issues and Items on the Horizon
Deloitte, as part of their Financial Reporting Series presented a webinar on year end reporting issues. The panel consisted of: Bob Uhl Beth Ann Reese Glen Donovan Stuart Moss Valuations will be a hot topic for year end reporting. The problem is the current “market impairment” existing for many securities. Auction Rate Securities settlements offer … Read more »
Data Privacy Roundtable
Deloitte hosted an executive roundtable on Massachusetts Data Protection. The room was packed full of us trying to figure what to do with these regulations. Mark Schreiber of Edwards Angell Palmer & Dodge kicked things off with a look at the history of the regulation and the regulators view of the regulations. The regulators acknowledge … Read more »
IT for GRC: Improving Information Quality
Carole Switzer, President of OCEG and Lee Dittmar, principal of Deloitte Consulting LLP presented this webinar. There is an imperative to improve governance, risk management and compliance processes to better manage risk, address increasing regulatory requirements, increased executive accountability and the fragmentation of information. It is about getting the right information, to the right person, … Read more »
Fraud Detected More Often At Bankrupt Companies
Bankrupt companies are three times more likely to have been cited for fraud by U.S. regulators, according to a study released on Monday from Deloitte Financial Advisory Services LLP. The study also showed that fraud incidents were much more likely to land a company in bankruptcy court. Sheila Smith, head of reorganization services at Deloitte … Read more »
Deloitte sues vice chairman for client stock trades
Accounting firm Deloitte & Touche LLP has sued its former vice chairman for trading in securities of the firm’s audit clients. In a lawsuit filed Oct. 29 in Delaware Chancery Court, Deloitte said Thomas Flanagan “repeatedly lied to Deloitte about his clandestine trading activities in annual written certifications, going so far as to conceal the … Read more »