I spent most of this week in Boston as the guest of SAP (of which more later) but flights being what they are, I had a spare day before returning to Spain. I’d pinged Francine McKenna to say I would be vaguely local and to my surprise, she made the trip from Chicago to meet up, share experiences and plot evil things 
I’ve referenced Francine a number of times for good reason. I’m a great believer in deferring to those who are smarter than me. I describe Francine’s schtik as professional ethics, the Big Four and compliance. Her insider knowledge is outstanding and like Richard Murphy and Prem Sikka she says the things that other people say behind closed doors but are often afraid to air in public. In that sense, she sheds a fresh light on what it means to be part of a Big Four outfit. It’s rarely complimentary or pleasant. And for good reason.
I’ve said many times before that I believe the profession is at grave risk. In part because I see the profession as out of touch with reality, insular, a considerable distance behind the technology curve and arrogant. Francine parses the profession’s continuing failure to exercise its duty of care to shareholders and predicts that it is only a matter of time before one of the Big Four fails – not through the impact of regulatory fines but through weight of litigation. It’s a point of view with which I agree.
During our discussions, Francine and I ruminated over the conflict that media such as Compliance Week face. They, along with the PCAOB, CFO.com and others are regular readers to her blog, they know what she says carries authority yet they will find it difficult to carry her material. Why? The Big Four are important advertisers on CW. This effectively muzzles the publication because editors come under intense pressure to avoid controversy and, sometimes, the truth. I have always believed that editors should be fearless in the face of this kind of commercial pressure. Anything else is selling the readership short. It affects reporting quality and dumbs down debate. That’s one reason this blog exists. Even though I take sponsorship, it is always on the understanding that I will not be pressured into keeping quiet on issues of importance. And depsite what many think, this is not about being deliberately awkward or looking for the negative but about getting issues into the open so they can be resolved.
To date, the Big Four have largely ignored what Francine, Richard, Prem and I have said.What they don’t know is that their next generation of partners and staff are not. Francine says that she regularly receives email from prospective hires asking a broad range of questions about what it means to be part of the Big Four gravity field. Do they think she’s going to give a sugar coated or rose colored view? That would be dishonest and fly in the face of her sense of integrity.
Later in the day, we visited with Mzinga, a company that develops enterprise class social networks. I wanted Francine to meet Rachel Happe, one of the smartest and engaging people I know. Check Rachel’s napkin strategy post. It’s a great read. Rachel understands compliance issues as they relate to corporate content and I thought it would be a good opportunity for the two to share thoughts. While there, we recorded a podcast that talks about the emerging issue of communications etiquette. It was a fun and unexpected thing to do. Afterwards, Chris Brogan was kind enough to drive Francine and I back to Logan Airport.
All in all it was a great experience. As an end note, it says a lot to me that someone is prepared to fly 851 miles to meet. It says even more about the power of developing relationships through digital media that Francine is exactly as I expected.
Pic clipped from this image on BrightKite – Francine is second on the right
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