From the sharp eye (and pen) of RE: The Auditors... Francine McKenna catches a potential issue on the rise.

Debvoise & Plimpton is the law firm retained by Siemens' audit committee to aid the company in their internal investigation of the bribery allegations. D&P will be using number crunchers from Deloitte Touche Tomahtsu to assist.

However, Deloitte and Siemens have a business relationship in implementing software for third party clients. Deloitte touts these industry alliances (with both Siemens Energy & Automation, Inc. and Siemens Medical Solutions USA, Inc) right here.

Now Deloitte is a big place, but given their relationship with Siemens, should they really be the guys reviewing the books? And when will someone call them on it?

Hop on over to RE: The Auditors to read more of Ms. McKenna's comments on the subject.

-- MDT

Labels: Debvoise and Plimpton, Deloitte, Siemans Medical, Siemens

No, not THAT Siemens division. In this instance we're talking about Siemens Medical Solutions, USA, which has of late been embroiled in its own share of scandal. The Siemens unit has agreed, as a part of a plea deal, to pay $2.5 million in fines and restitution in penance for shady dealings surrounding Siemens Medical's acquisition of contract to supply radiological equipment to Illinois' John H. Stroger Jr. Hospital. Details on Siemen's scam here.

-- MDT

Labels: Fraud, minority owned company, Siemans Medical, Siemens