francine mckenna

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PwC: rotten to the core or just plain stupid?

I hope that my good friend Vinnie Mirchandani doesn't take offense to the title of this post. PwC is his alma mater in a past life. However, events at Satyam in India, which have not received the attention they deserve in the US, have taken a decidedly weird or comic...

Tags: PricewaterhouseCoopers Consulting, Satyam, Francine McKenna, Financial Accounting, Outsourcing, Finance, It Operations, Business Operations, Outsourcing & Subcontracting, Dennis Howlett

Blog posts 2009-06-30

Additional Resources

Is your supply chain gonna kill you?

Jason Busch has an excellent post: Friday Rant: Beyond SarbOx -- Waiting for the Big One to Hit . I'm betting few people want to talk about this particular hot potato. Please don't choke on your early morning coffee. He says: Then as now [when SarbOx was enacted], companies...

Tags: Supply Chain, International Financial Reporting Standards, Audit, Jason Busch, Supply Chain Management (SCM), Enterprise Software, Software, Dennis Howlett

Blog posts 2009-09-04

More, a lot more, on the Huron restatement

Francine McKenna of Re: TheAuditors is possibly one of the best bloggers to cover the audit space. She gets deeper into independence and governance issues than anyone else I know. While I wrote a short piece on the impact of earnouts on the Huron crisis of...

Tags: Stock, Huron, Investment, Finance, Brian Sommer

Blog posts 2009-08-04

Bearing Point files for Ch.11 protection

It's been a long time coming but Bearing Point finally succumbed to the mountain of acquisition fuelled debt it acquired between 1999-2002 and has filed for Chapter 11 bankruptcy protection. Per Reuters: As part of the prearranged plan, a $500 million senior secured credit facility will be replaced with...

Tags: PricewaterhouseCoopers Consulting, Bearing Point, Consulting, Outsourcing, It Operations, Business Operations, Outsourcing & Subcontracting, Dennis Howlett

Blog posts 2009-02-18

Satyam fallout: Should customers stick? Full text of chairman's stunning letter

Indian outsourcing company Satyam has cooked books, a $1 billion cash sink hole and its chairman and founder B Ramalinga Raju has fabricated figures. Meanwhile, Merrill Lynch has bailed on being an adviser to the company and shares of the firm were down 90 percent or so in premarket trading...

Tags: Board, Satyam, Maytas, Task Force, Corporate Governance, Business Operations, Corporate Law, Larry Dignan

Blog posts 2009-01-07

Satyam crashes with $1 billion cash hole

In a shock announcement this morning, Satyam, India's fourth largest outsourcing companies reported that B Ramalinga Raju, founder and chairman has resigned following an admission that there is an estimated $1 billion cash hole in the company's balance sheet. The company's shares crashed 77% in the aftermath. According to Finextra:...

Tags: Satyam, Balance Sheets, Outsourcing, Litigation, Asset Management, Financial Statements, Financial Accounting, Finance, It Operations, Business Operations, Outsourcing & Subcontracting, Operational Planning, Dennis Howlett

Blog posts 2009-01-07

Women and leadership

Last week, my dead tree copy of McKinsey Quarterly arrived bearing the above title. This section caught my eye (p.45 and written by Joanne Barsch, Susie Cranston and Rebecca A. Craske): One surprising thing we learned as a result of talking with female leaders was that they often fail...

Tags: McKinsey & Co., Leadership, Men, Women, Leader, Personal Development, Gender And Diversity, Human Resources, Dennis Howlett

Blog posts 2008-10-27

Ticking bombs in enterprise land

I believe the enterprise software industry is heading for major problems. It started when I read Francine McKenna  where she talks about what she sees as a doomsday scenario for at least one of the Big Four audit businesses. Francine's focus is on questioning the effectiveness of current methods for...

Tags: Software, Audit, Francine, Tools & Techniques, Financial Accounting, Management, Finance, Dennis Howlett

Blog posts 2008-07-07