Author's posts
The “Big Four” accounting and audit firms are spending more than they have since 2002 (the year they lost one of their own in the Enron debacle) on lobbying the US government. According to a Reuters analysis of congressional disclosure reports, the four accounting powerhouses spent a combined $9.4 million last year on in-house and outside …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2012/03/big-four-attempt-to-increase-their-influence/
Michael Woodford has been recognized with the 2012 Cliff Robertson Sentinel Award by the Association of Certified Fraud Examiners (“ACFE”) for the whistleblower actions that allegedly led to his ousting from the company. As the new CEO of Olympus Corporation, Mr, Woodford exposed alleged fraud at his own company. The allegations involved improper accounting attributed to …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2012/03/former-ceo-recognized-for-whistleblower-action/
Twenty years is a long time to keep a Ponzi scheme going, but it finally caught up with R. Allen Stanford, the Texas tycoon who was recently convicted on 13 of the 14 counts brought against him. Stanford, previously among America’s wealthiest with an estimated net worth of $2 billion, now faces more than 20 years …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2012/03/another-ponzi-scheme-conviction/
Contracts are often long and arduous to read, with excruciating detail and numerous defined terms that sometimes bear little resemblance to their “real world” usage. And yet, when a problem arises and each side points to the contract to prove the superiority of their position, many items still become a subject of dispute (even if one side’s current …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2012/02/specificity-in-contracts-can-avoid-future-disputes/
Fortune has released its current list of the “100 Best Companies to Work For”, with Google topping the list for the third time in its history. The highly sought after honor considers criteria such as pay, perks, culture, and job growth. The full list can be found here, but the top twenty companies are: Google Boston …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2012/02/best-places-to-work/
The Securities and Exchange Commission (“SEC”) has made a nuanced policy shift toward its fraud investigation settlements. Previously the SEC allowed companies to settle fraud charges by paying a fine without admitting wrongdoing. This practice has received widespread criticism despite SEC claims that it encouraged settlement and avoided expensive litigation. Going forward, the SEC will no longer allow defendants to say …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2012/01/sec-changes-it-policy-on-fraud-settlement-language-somewhat/
The Public Company Accounting Oversight Board (“PCAOB”) recently released its 2010 inspection report on Ernst & Young (“E&Y”). Upon review of 62 audits and one assignment where E&Y had a role but was not the primary auditor, the PCAOB concluded that there were problems with 13. Certain problems were of such significance that they constituted …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2011/12/pcaob-finding-more-and-more-audit-failures/
News reporting is notorious for requiring rapid turnaround on emerging stories and budget cuts have certainly increased the pressure. Perhaps as a result, there have lately been a number of glaring mistakes from organizations that pride themselves on their economic and business reporting. For instance, Business Insider recently provided an article regarding “6 Awesome Math Tricks That Will Make Your Life …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2011/12/checking-it-twice-is-a-good-suggestion-beyond-santas-list/
US News and World Report has unveiled its current listing of the top colleges, including various subcategories such as Best Undergraduate Business Programs. The top five include three public universities and are as follows: University of Pennsylvania Massachusetts Institute of Technology University of California – Berkley University of Michigan – Ann Arbor University of Virginia New York University, …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2011/09/report-identifies-top-undergraduate-business-programs/
There is significant and valid concern over the government’s ongoing ability to maintain Social Security payment commitments. Given these issues, one might reasonably expect the Social Security Administration to safeguard the existing assets. Guess again. The Social Security inspector general estimates that $40 million was paid out to deceased beneficiaries. These erroneous payments did not …
Continue reading
Permanent link to this article: https://betweenthenumbers.net/2011/09/in-lieu-of-flowers%e2%80%a6social-security-sends/
Dec 19
“Checking it twice” is a good suggestion beyond Santa’s list…
December 19, 2011
News reporting is notorious for requiring rapid turnaround on emerging stories and budget cuts have certainly increased the pressure. Perhaps as a result, there have lately been a number of glaring mistakes from organizations that pride themselves on their economic and business reporting. For instance, Business Insider recently provided an article regarding “6 Awesome Math Tricks That Will Make Your Life …
Continue reading