May 31
Even after the increased regulation associated with the Sarbanes-Oxley Act (SOX) in July 2002, the audit profession continues to deal with questions of whether they are truly independent from the companies who employ them and overall audit effectiveness. A recent report commissioned by the Center for Audit Quality (“CAQ”) specifically examines Securities and Exchange Commission …
Permanent link to this article: https://betweenthenumbers.net/2013/05/battling-auditor-enabled-fraud/
May 30
Considering taxes in a lost earnings calculation related to personal injury matters may materially alter the damages amount. In the well-known 1980 Supreme Court case, Norfolk & Western Railway Co. v. Liepelt, the Court ruled that courts should consider taxes and calculate lost earnings net of income taxes. The Court’s rationale was that the damage …
Permanent link to this article: https://betweenthenumbers.net/2013/05/consideration-of-taxes-in-a-lost-earnings-calculation/
Permanent link to this article: https://betweenthenumbers.net/2013/05/is-college-worth-it-taking-new-econometric-methods-seriously/
May 25
A recent study in The Journal of Financial Economics suggests that a compensation structure that relies on financial performance measures can be tied to incidences of fraud. Generally, the study concludes that individuals are more likely to engage in financial misstatements when the there is little downside and high upside. The implication is that this relationship can have …
Permanent link to this article: https://betweenthenumbers.net/2013/05/7613/
May 23
A recent ruling in a New Jersey federal court will no doubt serve as a warning for litigants who decline to employ the services of an expert to establish reasonable royalties. In the matter of Unicom Monitoring, LLC (“Plaintiff”)v. Cencom, Inc. et al (Civil Action No. 06-1166 (MLC)), U.S. District Judge Mary L. Cooper granted …
Permanent link to this article: https://betweenthenumbers.net/2013/05/no-expert-leads-to-no-damages/
May 21
Banking is changing these days. You don’t even need to go into the bank to deposit checks anymore, you can do it right from your smartphone. Even if you go into the bank, certain banks have ATM or other sophisticated computer modules in order for you to handle transactions so you do not have to …
Permanent link to this article: https://betweenthenumbers.net/2013/05/atms-robbed-no-guns-involved/
May 09
More school is not for everyone. In 1973, Paul Simon–the son of a college professor and elementary school teacher–recorded a lesser known song called “Kodachrome” with the lyrics: “When I think back on all the crap I’ve learned in high school It’s a wonder I can think at all Though my lack of education hasn’t …
Permanent link to this article: https://betweenthenumbers.net/2013/05/geniuses-and-dropouts-must-ask-is-college-worth-it/
May 06
In this day and age, technology is surrounding us everywhere and being used by everyone from kids to seniors. Technology is now being used on airplanes as well to communicate with flight attendants. ABC News, along with other sources, reports that a passenger recently refused to use new airline technology on a Virgin America flight …
Permanent link to this article: https://betweenthenumbers.net/2013/05/500k-in-damages-claimed-from-refusal-to-use-technology-fallout/
May 01
The Bureau of Economic Analysis’ (BEA) report of Gross Domestic Product (“GDP”) is one of the most commonly used indicators of economic health. It measures the total value of all finished goods and services produced in the U.S. within a specified period (normally a year). In July that number is guaranteed to go up, yet …
Permanent link to this article: https://betweenthenumbers.net/2013/05/re-writing-economic-history-with-a-substantive-change-to-the-gdp-formula/
May 28
Is College Worth It?— New Econometric Methods Provide Another Approach
May 28, 2013
In a previous post, Eric discussed a Brookings Institution policy brief that argued, among other things, that college education is a poor investment for some students. This assertion is based in large part on the negative return on investment (ROI) reported by Payscale.com for certain non-selective colleges. The problem with this sort of analysis, however, …
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