Audit firms

Seven Reasons Why the Wirecard Fraud Matters

We now know that Wirecard was a massive fraud. The company—treated like a rock star by regulators and key players in finance—fabricated...

Big Four Audit Firms Enjoy a “Too Few to Fail” Regulatory Hall Pass

The failure of Enron and subsequent demise of Arthur Andersen led to significant changes for public reporting and auditing but not much change in...

Will PwC Throw the Red Card on its Swiss Firm Over FIFA?

PwC took over as auditor of the corruption-plagued global football body last year, with the intention of  reforming it. So how is it that...

How the Global Audit Firms, Led by Deloitte, Are Using Their Lobbying Clout to Dilute Sarbanes-Oxley Reforms

A look at the Big Four’s congressional lobbying activity shows the auditors and their trade association taking advantage of the “Trump” window to roll...

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George Stigler on Henry Simons, “Crown Prince” of the Chicago School

To mark 75 years since the passing of Henry Simons, professor of Economics and Law at the University of Chicago, ProMarket is...

Electoral College Reform: New Problems or Real Solutions?

Each electoral system creates specific incentives to (mis)allocate government resources. Would putting the National Popular Vote (NPV) in lieu of the Electoral...

When Do Users Benefit From Platform Mergers?

A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 

Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Economists Harold Demsetz and Israel Kirzner challenged the prevailing orthodoxy in microeconomic analysis and public policy beginning with their respective work in...

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...