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Francine McKenna

Francine McKenna worked in consulting, professional services, accounting and financial management for more than 25 years. She writes "Accountable," a BankThink column on corporate governance, risk management and the Big Four audit firms and their impact on financial institutions. McKenna also blogs at re: The Auditors.

Recent Stories From this Author

What Mortgage Settlement Lacks in Substance, It Makes Up in Execution
October 1, 2012 A practical, well-executed plan, even one with disappointingly modest goals, will deliver more than an overly ambitious plan,...

Megabanks Extend and Pretend They Won't Pay for Foreclosure Fouls
September 24, 2012 It's in consultants' best interests to extend the foreclosure review engagements as long as possible without coming up with an...

Did the Government Profit From AIG? That's the Wrong Question
September 14, 2012 The bailouts were justified as a way to unfreeze credit and help homeowners, and the government failed on both counts.

Auditors Give Banks a Pass on Reserves, KPMG Report Shows
September 5, 2012 The Public Company Accounting Oversight Board's first report this year on a Big Four firm confirms my long-held suspicion:...

Bain Capital Partners and PwC: A Rich and Varied Relationship
August 28, 2012 Bain Capital's relationship with auditor PricewaterhouseCoopers, though not necessarily inappropriate, is still too casual and...

Monitoring Standard Chartered Means Dumping Big Audit Firms
August 20, 2012 Standard Chartered agreed last week to pay the New York Department of Financial Services $340 million to settle allegations of...

Barofsky's Memoir Will Ring True to Bank Examiners, Auditors
August 10, 2012 The special inspector general for Tarp worked in the subbasement of the Treasury Department. Watchdogs given an inconvenient,...

Auditors Are Asleep at the Switch on Banks' Risk Controls
July 16, 2012 Big banks' boards keep missing increased risk and poor internal controls. Their auditors, supposedly shareholders' first line...

Where Was Auditor PwC When Its Client Barclays Gamed Libor?
July 6, 2012 PricewaterhouseCoopers failed to warn shareholders and the public about increased risk at Barclays. The auditor gave the...

Familiar Patterns in Spain's Banking Crisis
June 27, 2012 Dubious stress test results? External auditors who fail to flag insolvency in advance? The U.S. and U.K. have seen this film...

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