Supplies, business travel and the rest of my expenses all get double-checked by audit and control folk to make sure I don’t spend an extra few bob, euros, or yen. Limiting the unnecessary and assuring best value, they say.

But isn't it odd that some of the biggest single fees that firms pay don't go through such controls? I'm not talking about CEOs' choices of jets and perks, but it is along similar line. It's those big advisory fees - investment banking, securities issuance, strategy, too.