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Matters Financial |
7 April 2003
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Deloitte Forgets about Perceptions
The big accounting firm of Deloitte Touche has decided to fly in the face of the industry trend and retain both its audit and consulting businesses. If so, one can safely predict that this is a decision that current management will live to regret. The business is not about selling accounting services, but rather, selling faith. Click here to read more.
US Companies Show 50% Rise in Audit Committee Meetings
While the ashes of Enron and HealthSouth are still cooling, there is action in the boardrooms of America to make sure that such things become rare as good television. The Financial Times has reported that meetings of audit committees is up by 50%. While it may not prevent fraud in the future, at least the directors are in a position to stop it. Click here to read more.
Appeal Bond Could Bankrupt Philip Morris
Altria, which is the new name for the company that owns Kraft Foods and cigarette maker Philip Morris, faces bankruptcy because it recently lost a case in Illinois and may not be able to afford an appeal. While sympathy for the firm would be misplaced, this sort of tort case makes for bad public policy. Click here for our view.