Francine McKenna

Francine McKenna is an independent journalist who authors the newsletter, The Dig, covering accounting, audit and corporate governance issues at public and pre-IPO companies. She was previously the Transparency reporter at MarketWatch, a leading online financial news outlet published by Dow Jones & Co., where she covered financial regulation and legislation beginning in 2015. Her work has been featured frequently in The Wall Street Journal and Barron’s; her reporting and commentary have also been featured in the Financial Times, Accountancy Age, Accountancy Magazine, the University of Chicago Booth School of Business Chicago Booth Review magazine, and various other financial, media, and technology publications. She previously authored regular columns on corporate accounting issues for Forbes and on the intersection of financial services and professional services for American Banker. McKenna was a Journalist in Residence at the Stigler Center at the University of Chicago’s Booth School of Business in 2017. McKenna is an adjunct professor in international business in the MBA program at American University’s Kogod School of Business. Her perspective as an financial journalist and commentator is informed by more than 25 years of experience in executive roles in professional services, financial services, and manufacturing firms. In 2006, McKenna created the blog re: The Auditors to explore in an independent, objective, and often critical way the role, responsibility, and regulation of the audit and accounting industry in the global capital markets, and in particular, the business of the Big Four audit firms. Prior to transitioning to journalism beginning in 2006, McKenna was a director in PwC’s internal audit and governance advisory services group, where she audited PwC’s post-Sarbanes-Oxley response to heightened compliance and regulatory scrutiny. Before that, she was regional vice president for the Midwest at Jefferson Wells (a subsidiary of Manpower); led the industrial, automotive, and transportation practice as BearingPoint’s (formerly KPMG Consulting) first female managing director in Latin America; and directed the Y2K project management office for JPMorgan Chase’s Latin America operations.

Elon Musk Wants to Get Paid. He Will Get His 2019 Bonus Thanks to an Accounting Magic

In March 2018, Tesla’s Board of Directors granted Musk a potential bonus of 20,264,042 stock option awards under a  plan that uses “adjusted EBITDA” as one...

How Regulators and PwC Fooled Reporters—Again

Is the PCAOB really investigating PricewaterhouseCoopers (PwC) for its role in the Mattel auditing mess? I may be wrong, but I seriously doubt it....

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...

Latest news

New Research Shows The Breakup of IG Farben Increased Innovation

IG Farben used to be the world’s largest chemical company and a major innovator—until it was broken up in one of the...

Why Streaming Doesn’t Pay

An excerpt from a new book, Chokepoint Capitalism: How Big Tech and Big Content Captured Creative Labor Markets and How We'll Win...

Democratize Work

An excerpt from a new book, Democratize Work: The Case for Reorganizing the Economy, advocates democratizing firms and decommodifying work.

Antitrust Enforcement, Inflation and Corporate Greed: What do we know?

At a recent Centre for Economic Policy Research (CEPR) event, panelists, including the Stigler Center's own Luigi Zingales, reflected on the roles...

Data is Abundant But is it Accessible to Researchers?

Despite the wide availability of data, ensuring independent access to data sources has never been more crucial. How can researchers engage in...

Private Labels in Online Marketplaces

On their store shelves, Walmart has its own products under the "Great Value” brand, and Tesco has its own “Everyday Value” products....

Bolsonaro’s reelection may become a setback for ESG in Brazil

Social pressures, market forces and elected leaders influence corporate decisions on environmental, social and governance (ESG) issues. Journalist Stephanie Tondo examines the...