Comments: Auditors grow a pair - Heta Bank to be wound up after external audit found a hole

Not SIFIs but PIFIs - a bank bailout lesson from Austria
http://www.bruegel.org/nc/blog/detail/article/1585-not-sifis-but-pifis/

Posted by Lynn Wheeler at March 9, 2015 01:06 PM

Why are Top Tier Audit Failures so Common?
http://neweconomicperspectives.org/2015/03/why-are-top-tier-audit-failures-so-common.html

In the congressional madoff hearings they had the person that had tried unsuccessfully for a decade to get SEC to do something about Madoff. Part of his testimony was that whistleblowers expose 13 times more fraud than audits.

Congress also asked him if new regulation was needed and he replied that while new regulation might be needed, much more important would be transparency and visibility (in part because existing regulations weren't being enforced)

Posted by Lynn Wheeler at March 10, 2015 11:53 AM
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