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Are women being unfairly prevented from engaging in corporate fraud? That seems to the be conclusion espoused by sociologist Darrell J. Steffensmeier of Pennsylvania State University in his recent study published in the journal American Sociological Review: “Typically, women were not part of'[fraud] conspiracy groups. When women were involved, they had more minor roles and made less profit …
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Permanent link to this article: https://betweenthenumbers.net/2013/09/questions-of-fraud-and-gender/
In 2012, the Public Company Accounting Oversight Board (“PCAOB”) conducted inspections of registered public accounting firms pursuant to the Sarbanes-Oxley Act of 2002 According to the PCAOB: “The inspection process is designed, and inspections are performed, to provide a basis for assessing the degree of compliance by a firm with applicable requirements related to auditing issuers. The …
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Permanent link to this article: https://betweenthenumbers.net/2013/09/pcaob-finds-fault-with-kpmg-and-pwc-audits/
Since 2009, the U.S. Department of Justice has charged more than 30 banking professionals and 68 U.S. accountholders with violations arising from their offshore banking activities, with ongoing investigations proceeding against 14 additional Swiss-based financial institutions. In an effort to improve this process, the U.S. Department of Justice and the Swiss Federal Department of Finance jointly announced …
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Permanent link to this article: https://betweenthenumbers.net/2013/08/swiss-banks-no-longer-a-haven/
With a self reported estimate of $19.2 billion worth of tax return fraud each year, the IRS is working to improve its detection efforts. The Treasury Inspector General for Tax Administration (“TIGTA”) issued a July report highlighting weaknesses in the IRS’ Return Review Program (“RRP”). The TIGTA recommended that the IRS Chief Technology Officer implement the …
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Permanent link to this article: https://betweenthenumbers.net/2013/08/irs-still-needs-to-shore-up-its-fraud-detection-efforts/
The owner of a Tennessee hotel named at the top of TripAdvisor’s 2011 list of America’s dirtiest hotels has lost its bid to sue the website for defamation. A federal appeals court agreed with the 2012 ruling by U.S. District Judge Thomas Phillips’ determination that users would not reasonably conclude that the resort was literally “America’s dirtiest …
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Permanent link to this article: https://betweenthenumbers.net/2013/08/dirtiest-hotel-in-america-loses-again/
The California Court of Appeals has reversed a trial court’s decision to dismiss a tenant lawsuit against a shopping center landlord based on differences between the landlord’s estimates of certain charges outlined in a Letter of Intent (“LOI”) as part of lease negotiations versus the amounts charged by the landlord upon occupancy. Prior to entering …
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Permanent link to this article: https://betweenthenumbers.net/2013/08/will-shopping-center-be-held-to-estimates-in-a-letter-of-intent/
The Public Company Accounting Oversight Board (“PCAOB”) has issued its second report regarding auditors of brokers and dealers registered with the Securities and Exchange Commission (“SEC”). This report relates to inspections of 60 audits conducted by 43 firms, which the PCAOB performed from March 1, 2012 to December 31, 2012. The overall result was dismal, and as follows: In contrast to …
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Permanent link to this article: https://betweenthenumbers.net/2013/08/pcaob-reports-auditors-and-broker-dealers-are-too-close-for-comfort/
A federal district court, in the matter of Bagley, No. 2:10-cv-00483-RT-FMO (C.D. Cal. 8/5/13), has determined that Richard Bagley was engaged in the trade or business of pursuing False Claims Act lawsuits against his former employer and was thereby entitled to deduct legal expenses related to that endeavor as ordinary and necessary business expenses. The False Claims Act (FCA) …
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Permanent link to this article: https://betweenthenumbers.net/2013/08/whistleblowers-litigation-costs-are-deemed-deductible-business-expenses/
A recent decision by the Georgia Court of Appeals in the matter of Monitronics v. Veasley upheld a multi-million dollar jury award to an alarm company customer who suffered an in-home assault. The alarm company argued that their contract included a $250 limitation of liability for any service related losses. The Appeals Court, in a …
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Permanent link to this article: https://betweenthenumbers.net/2013/08/appeals-court-rules-that-size-matters/
The U.S. Court of Appeals for the Fifth Circuit’s decision in Asadi v. G.E. Energy provides a new take on whistleblower protections under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Court found that, by definition, a whistleblower must have reported the claimed violation(s) to the U.S. Securities and Exchange Commission (“SEC”) in …
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Permanent link to this article: https://betweenthenumbers.net/2013/07/fifth-circuit-takes-different-stance-on-dodd-frank-whistleblower-status/
