E&Y-Giuliani Program May Help Prevent Enrons

In an interview with CNN on February 27, 2002, former New York City Mayor Rudy Giuliani provided a glimpse into the services his newly-formed consulting firm is offering its corporate clients. Mr. Giuliani is chairman and CEO of Giuliani Partners, a strategic alliance with Ernst & Young (E&Y). Among other products and services, his firm plans to make available a computer-driven program that may help prevent future Enrons.

As an overview of the firm's products and services, Mr. Giuliani said he and his partners are doing a lot of preliminary work designed to help improve management's effectiveness in the area of security. "Essentially, it's crisis management and protection of businesses and brands," he said. Simply stated, the firm advises clients on what steps they need to take now to protect their future business operations.

"I know people will thinkā€¦ this is just about my name," he said. "But actually it's about substance." To apply that substance to his consulting business, the former mayor plans to leverage some of the same techniques he used to tame a city that people considered "unmanageable and ungovernable." A key example is the computer program the former mayor used to manage 20 agencies.

Described by Mr. Giuliani as "a way of analyzing a corporation to make it more accountable, understandable and profitable," this program can help managers and others identify and resolve problems before they become crises.

"If [the computer program] had been operating within Enron," said Mr. Giuliani, "there never would have been an Enron. The upper management of the company would have had complete and absolute knowledge of the transactions that were going on. They [the transactions] would have been more transparent to the investing public and the people who were doing the auditing."

-Rosemary Schlank

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Already a member? log in here.

Upcoming CPE Webinars

Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.