tag:blogger.com,1999:blog-8431368106238433082.post4392811299589792407..comments2024-03-27T05:19:21.691-04:00Comments on FEI Financial Reporting Blog: SEC Issues "Dear CFO" Letter Requesting Info On Reposfinancial executives bloghttp://www.blogger.com/profile/11084436965192606339noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-8431368106238433082.post-90744257346864189332013-07-31T01:32:25.398-04:002013-07-31T01:32:25.398-04:00Interesting conversation, I really love your post ...Interesting conversation, I really love your post very much.<br /><br /><b><a href="http://santarosadelima.org/" rel="nofollow">Finance Info</a></b>Finance Infohttp://santarosadelima.org/noreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-65470683801119833862011-10-22T03:46:48.744-04:002011-10-22T03:46:48.744-04:00Pretty helpful data, lots of thanks for your post....Pretty helpful data, lots of thanks for your post.www.cordoba-3d.comhttp://www.cordoba-3d.comnoreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-50267890653476730442011-04-09T20:07:11.047-04:002011-04-09T20:07:11.047-04:00One more thing, the financial institutions really ...One more thing, the financial institutions really has to do on SEC's progress or what SEC does.kristinenoreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-42948105955285296952011-04-04T07:06:02.347-04:002011-04-04T07:06:02.347-04:00Hi there!
I agree to what Crhis Neufeld has said. ...Hi there!<br />I agree to what Crhis Neufeld has said. SEC has many things to say to its officers. SEC should watch out on managing their limited to resources in order to avoid mismanagement. Public investors should be protected by SEC. Many things could be encountered especially on financial institutions.<br />SEC must take an early action for such issues. <br /><br /><a href="http://www.bibleknowledgebookstore.com/jewelry/christian-purity-rings-and-promise-rings.html" rel="nofollow">Kristine from Purity Rings</a>kristinenoreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-27520953893926643272011-04-01T10:29:36.377-04:002011-04-01T10:29:36.377-04:00I would not want to be an auditor. I have nothing ...I would not want to be an auditor. I have nothing to hide from auditors but I try to evade them as much as I can. After all these new regulations, now is the time for letters! What else do they have to check now!<br /><br />Timothy Cassar<br />Webmaster - <a href="http://www.cash-advance-loans-online.com/cash-advance-loans/" rel="nofollow">Cash Advance Loans</a>Timothynoreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-79627650140841579972010-04-19T17:31:28.985-04:002010-04-19T17:31:28.985-04:00I know your mean........I know your mean........jackhttp://lowongan-2010.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-9862714308834895222010-04-13T09:27:16.680-04:002010-04-13T09:27:16.680-04:00To address comments posted by Anonymous:
My under...To address comments posted by Anonymous:<br /><br />My understanding of EY's knowledge of Repo 105 transactions is that while they may not have been illegal, they served no business purpose other than to improve the balance sheet ratios. <br /><br />The point of my comment was that the error occurred not because there was a lack of guidance contained in GAAP or GAAS, but rather the interpretation and application of those rules was hindered by a lack of independence between the auditors and management. <br /><br />EY is not alone in that. All auditors must woo their clients in order to get the job the next year. I would suggest that auditors are hired by those served by the information. For privately held companies, the banks should select the auditor. For publicly traded companies, SOX provisions to have the audit committee select the auditors does help, though perhaps more could be done there too.Unknownhttps://www.blogger.com/profile/18101236057304017594noreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-69769661346702545692010-04-13T00:12:10.041-04:002010-04-13T00:12:10.041-04:00Maybe Sheila can explain why she believes the R105...Maybe Sheila can explain why she believes the R105 transactions were not GAAP. <br /><br />I think Chris's comments is insightful and useful - how about some clear pro-active guidance from the regulators about the rules of the road. <br /><br />And to think there are those that want to adopt IFRS so we can get to "principle based" accounting. <br /><br />ROFL!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-10907789785426606712010-04-02T18:57:16.558-04:002010-04-02T18:57:16.558-04:00What more can one say about the SEC, which has bee...What more can one say about the SEC, which has been too busy with tackling matters after the fact. Even this approach appears to be misplaced, as it will look to prosecute matters which until now may not have been illegal and for which many of these major financial institutions have taken internal actions to address so that they don't have a situation similar to that of Lehman Brothers. This would appear to be another instance where the SEC will mismanage their limited resources, being late to the party and prosecute something that doesn't require prosecution, simply because for public appearances it looks like they are doing their job. The SEC needs to focus its energies on real, substantive investigations that will protect public investors.Company Lawyer Chris Neufeldhttp://www.companylawyer.infonoreply@blogger.comtag:blogger.com,1999:blog-8431368106238433082.post-71168110011875148892010-03-30T16:32:18.228-04:002010-03-30T16:32:18.228-04:00The SEC guidance at this point is too late to help...The SEC guidance at this point is too late to help. Even so, auditors don't need more rules. EY understood the Repo 105 transactions perfectly well, they just lacked the independence to do their job. I'd love for the SEC to start looking into auditor/independence reform instead of making up more rules.Unknownhttps://www.blogger.com/profile/18101236057304017594noreply@blogger.com