Why Auditors Should be Rotated
There is a proposal afoot to mandate auditor rotation every fiver years or so. Some don’t like it. I think it is a great idea, with large benefits relative to the costs. My insights, or lack thereof come from working in life insurance financial reporting in a number of different ways for around 15 years. ...
Book Review: Accounting for Value
Before I start this evening’s book review, I would like to ask a favor of my readers. If you like my reviews, maybe you can say that they are helpful at Amazon. I rank in the 2000s at present, which was a challenge to get to, because not many reviewers of finance, investing, and economics...
Book Review: Accounting for Value
Before I start this evening’s book review, I would like to ask a favor of my readers. If you like my reviews, maybe you can say that they are helpful at Amazon. I rank in the 2000s at present, which was a challenge to get to, because not many reviewers of finance, investing, and economics...
Misunderstanding the Tax Debate
This should be a short post, because my comprehensive view on tax reform is found here. The summary is that the problem is not tax rates. The problem is the definition of income. Just as in ancient times, people would make themselves look poor when the taxman came, so do the wealthy do today. “Income?...
Sorted Weekly Tweets
Central Banking Norway Faces Housing Bubble as Krone Steals Policy Agenda http://t.co/15hzb0So By cheapening the currency Norway gets an asset bubble $$ Mar 17, 2012 Unintended Consequences http://t.co/eLrKtCJc Sprott suggests that the financial system has a chemical dependency on the Central Banks. $$ Mar 17, 2012 Is the bond market tightening for the Fed?...
Deloitte Resigns as Boshiwa Auditor
Chinese accounting is coming back into the spotlight as a Big 4 auditor resigns from another company.
Sorted Weekly Tweets
I am considering making this an end-of-the-week feature as a news recap. Comments? Financials BofA’s Clash With Fannie Intensifies as Insurers Reject More Loan Claims http://t.co/fKgxwcVO Originators need to bear UW error results $$ Mar 03, 2012 Life as Libor Traders Knew It Seen as Abusive http://t.co/H5o5cH3G An inside look at the problems...
Notes on the 2011 Berkshire Hathaway Annual Report, Part 2
Picking up where the last post left off: 13) So Buffett told us he has a successor lined up, but won’t tell us who, but will tell us that the successor doesn’t know that he is the successor. Really does not seem like much of an improvement over the past, except that the CIO function...
Notes on the 2011 Berkshire Hathaway Annual Report, Part 1
Start with the basics, this is on the Annual Report, not just the shareholder letter. I may have a second report out after the 10K is released. 1) One thing that was fascinating was the large number of low level acquisitions happening in the subsidiaries, and the desire for more of them. There is interest...
A New Normal for Energy?
The energy landscape is changing fast with so-called “unconventional” forms fast becoming the new norm, says accounting firm Ernst & Young.
Sorted Recent Tweets
Trying a new format here, I think readers will like it better. Most things are better after additional effort. Think of this as a news links by subject post. Economics If you look in the back, it seems that there were 58 respondents. From page 13: Methodology & Panel Selection Invi… http://t.co/p8sVZl9g Feb 06, 2012...
Sino-Forest – Still no Closure
Yet another long-awaited Sino-Forest Corp. report is out. If anyone was looking for closure, they might be disappointed.
