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	<title>Comments on: Jeremy Newman BDO: we suspended belief</title>
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	<link>http://www.accmanpro.com/2009/04/17/jeremy-newman-bdo-we-suspended-belief/</link>
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		<title>By: re: The Auditors &#187; Blog Archive &#187; BDO International - Yellow Card or Red Flag?</title>
		<link>http://www.accmanpro.com/2009/04/17/jeremy-newman-bdo-we-suspended-belief/comment-page-1/#comment-6180</link>
		<dc:creator>re: The Auditors &#187; Blog Archive &#187; BDO International - Yellow Card or Red Flag?</dc:creator>
		<pubDate>Thu, 21 May 2009 02:14:09 +0000</pubDate>
		<guid isPermaLink="false">http://www.accmanpro.com/?p=4596#comment-6180</guid>
		<description>[...] that&#8217;s no slight to my friend Dennis Howlett. Â I was genuinely chuffed to see Newman post a comment to Dennis&#8217; blog. Dennis blogged aboutÂ Newman&#8217;s &#8216;candid&#8221; admissions in his Huffington Post blog post regarding the [...]</description>
		<content:encoded><![CDATA[<p>[...] that&#8217;s no slight to my friend Dennis Howlett. Â I was genuinely chuffed to see Newman post a comment to Dennis&#8217; blog. Dennis blogged aboutÂ Newman&#8217;s &#8216;candid&#8221; admissions in his Huffington Post blog post regarding the [...]</p>
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		<title>By: Francine McKenna</title>
		<link>http://www.accmanpro.com/2009/04/17/jeremy-newman-bdo-we-suspended-belief/comment-page-1/#comment-6179</link>
		<dc:creator>Francine McKenna</dc:creator>
		<pubDate>Sat, 18 Apr 2009 23:13:58 +0000</pubDate>
		<guid isPermaLink="false">http://www.accmanpro.com/?p=4596#comment-6179</guid>
		<description>@Jeremy Newman

I think what Dennis is referring to when he throws you in with the &quot;recovering addicts&quot; is this:

&quot;We believed that real value was being created by these new financial instruments and wanted to believe that the &#8220;good times&#8221; were here to stay...&quot;

Unfortunately, I don&#039;t agree that any of the Big 6 firms are &quot;recovering&quot; from the intoxication with good times at all.  All you have to do is observe closely, which I am, all the reductions in force and other cost cutting moves they&#039;re making because of the way they say they indulged themselves with too many resources and overhead during the good times.

Although I value the candour exhibited by that emphatic &quot;probably,&quot; I&#039;m less ecstatic about the firms&#039; complicity in the creative accounting we are seeing at Citigroup, for example.

As we are both blogging for Huffington Post, it should be easy for you to look up my recent post about KPMG and their other client, New Century.
  &lt;a href=&quot;http://www.huffingtonpost.com/francine-mckenna/kpmg-has-a-1-billion-prob_b_184617.html&quot; rel=&quot;nofollow&quot;&gt;http://www.huffingtonpost.com/francine-mckenna/kp...&lt;/a&gt;

Your firm is mentioned.</description>
		<content:encoded><![CDATA[<p>@Jeremy Newman</p>
<p>I think what Dennis is referring to when he throws you in with the &quot;recovering addicts&quot; is this:</p>
<p>&quot;We believed that real value was being created by these new financial instruments and wanted to believe that the &ldquo;good times&rdquo; were here to stay&#8230;&quot;</p>
<p>Unfortunately, I don&#039;t agree that any of the Big 6 firms are &quot;recovering&quot; from the intoxication with good times at all.  All you have to do is observe closely, which I am, all the reductions in force and other cost cutting moves they&#039;re making because of the way they say they indulged themselves with too many resources and overhead during the good times.</p>
<p>Although I value the candour exhibited by that emphatic &quot;probably,&quot; I&#039;m less ecstatic about the firms&#039; complicity in the creative accounting we are seeing at Citigroup, for example.</p>
<p>As we are both blogging for Huffington Post, it should be easy for you to look up my recent post about KPMG and their other client, New Century.<br />
  <a href="http://www.huffingtonpost.com/francine-mckenna/kpmg-has-a-1-billion-prob_b_184617.html" rel="nofollow">http://www.huffingtonpost.com/francine-mckenna/kp&#8230;</a></p>
<p>Your firm is mentioned.</p>
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		<title>By: Jeremy Newman</title>
		<link>http://www.accmanpro.com/2009/04/17/jeremy-newman-bdo-we-suspended-belief/comment-page-1/#comment-6178</link>
		<dc:creator>Jeremy Newman</dc:creator>
		<pubDate>Sat, 18 Apr 2009 21:44:14 +0000</pubDate>
		<guid isPermaLink="false">http://www.accmanpro.com/?p=4596#comment-6178</guid>
		<description>Dennis &#8211; thanks for your support.  I am doing a blog in my new role and you can find this at &lt;a href=&quot;http://blog.e-bdo.com&quot; rel=&quot;nofollow&quot;&gt;http://blog.e-bdo.com&lt;/a&gt;.

Not sure I understand your reference to being a &#8220;recovering addict&#8221; nor what the current debate over mark-to-market has to do with this &#8211; but happy for your support for my views on the current issues facing the marketplace and the accounting profession.</description>
		<content:encoded><![CDATA[<p>Dennis &ndash; thanks for your support.  I am doing a blog in my new role and you can find this at <a href="http://blog.e-bdo.com" rel="nofollow">http://blog.e-bdo.com</a>.</p>
<p>Not sure I understand your reference to being a &ldquo;recovering addict&rdquo; nor what the current debate over mark-to-market has to do with this &ndash; but happy for your support for my views on the current issues facing the marketplace and the accounting profession.</p>
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