August 21, 2018

PwC Unable to Protect Under Armour’s House

So to speak. You see, someone at Papa Whiskey Charlie dropped a flash drive that contained a lot of pertinent Under Armour employees' information in the mail and yep! it's missing.

Baltimore-based Under Armour Inc. told employees in an email message that an unencrypted thumb drive containing employee payroll information was lost in the U.S. mail on or about April 12 by its auditing firm, PricewaterhouseCoopers. The thumb drive was sent by mail in connection with a recent audit, the memo said.
 
“We are taking this matter very seriously and are working diligently with PwC and local governmental authorities to conduct an investigation and search, but have been unable to locate the thumb drive as of the date of this letter,” wrote the memo’s author, Chip Adams, Under Armour’s chief performance officer.
 
Jude Curtis, PwC’s chief ethics and compliance officer, confirmed the loss of the thumb drive.
 
“PwC is committed to protecting its clients’ confidential information and is working closely with its client to provide protective safeguards to those individuals whose information was lost,” Curtis said in a statement. “The firm deeply regrets that the information was lost in transit to a PwC facility, and is conducting a thorough internal investigation into these events to determine how PwC’s client security protections were breached.”
The individual responsible is now free to step forward at this time to express their deep regrets. There's no shame here. 
 

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In Case You Need Another Reason to Hate the French

french flag.jpgWalking around the PwC office in Midtown Manhattan, our blogospondent in the field happened across a couple of young ladies having the picture taken in front of the P Dubya sign out front, proudly posing as if it was their names on the building at 300 Madison.
Said blogospondent approached the young ladies and asked if they worked at the P Dub and they responded in heavily French accents, “yes”. As result of further prying, it was revealed that the ladies do work a lot during “busy times”, sometimes between 50 and 60 hours a week!
This compared to an American tax associate who we spoke to just a couple days before who, in the last fifteen days, had worked 185 hours.
Let’s recap: America – 185 hours in 15 days in the middle of June vs. France – 50-60 hours in one week during the “busy time”.
American vitriol towards the French may now ensue.

SHOCKER: Doesn’t Appear that Stanford Auditors were Doing Any Auditing

allen-stanford_1018295c.jpgLast week’s indictment of Allen Stanford has brought up the always popular question when fraud, occurs: “Who are the auditors that were asleep at the wheel of this disaster?”
Well, in this case, the auditors were a local UK two-person shop, CAS Hewlett, which must be Queen’s English for Friehling & Horowitz.
It doesn’t appear that CAS Hewlett has a website, but they’ve been doing the Stanford “audits” for at least 10 years, so obv they’re legit. PwC and KPMG both have offices on Antigua but Stanford preferred to stay with its “trusted firm”. Totally understandable.
And the best part? The founder of the firm, Charlesworth “Shelly” Hewlett died in January, approximately a month before the story broke on the Ponz de Stanford.
This all adds up to who-the-fuck-knows if audits were even occurring and for us to speculate if Shelly needed to get got because Stan knew that the poo and fan were coming together. Just sayin’.