• New accounting standard issued

    Announced by the AICPA (American Institute of CPAs): ASB Issues SAS No. 114, The Auditor’s Communication with Those Charged with Governance The Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) no. 114, The Auditor’s Communication With Those Charged […]

  • Sherron Watkins on Enron

    Fraud Magazine editor Dick Carozza did an interview with Sherron Watkins, the internal [tag]whistleblower[/tag] who started raising hell at [tag]Enron[/tag] when she started discovering problems with the numbers. He asked Sherron why the Enron [tag]fraud[/tag] happened… whether management lost its […]

  • Flip This House Lawsuit Continued

    As I mentioned in last week’s post about the A&E television show Flip This House, Richard Davis and Trademark Properties have sued A&E. Richard claims that A&E essentially stole his idea for the show and never paid him either for […]

  • Young Pros Investigate Fraud As a Career Option

    On Balance – The Magazine for Wisconsin CPAs January/February 2007 Ever since the big corporate scandals at Enron, WorldCom and Tyco, there has been an intense focus on fraud. This has made the field of forensic accounting the next hot […]

  • Vanishing Profession

    The shortage of accounting faculty is a hot topic in academia and professional circles. Some call it a crisis. INSIGHT – The Magazine of the Illinois CPA Society – January/February 2007 By Sheryl Nance-Nash Over the next three years, US […]

  • Pyramid Scheme Alert update

    In late November, I announced that I had been appointed to the Board of Advisors of Pyramid Scheme Alert (PSA). PSA is an organization dedicated to educating consumers about multi-level marketing companies and pyramid schemes. While MLMs are technically legal […]

  • State Farm Loses a Hurricane Katrina Case

    State Farm policyholders Norman and Genevieve Broussard of Biloxi, Mississippi have been awarded $2.5 million in punitive damages in their case against State Farm Fire and Casualty Co. The judge in the case also awarded the couple $223,292 for damage […]

  • Cisco Sues Apple for Use of iPhone Name

    On Tuesday, Apple unveiled its plans for the iPhone, which is to be distributed starting in June. On Wednesday, Cisco filed suit in U.S. District Court in San Francisco, seeking an injunction to prevent Apple from using the name. If […]

  • Report says the IRS collection system is flawed

    A report by Nina Olson, the Internal Revenue Service’s National Taxpayer Advocate, indicates that the system used by the IRS to collect back taxes is flawed. She indicated in her annual report to Congress that the IRS makes it difficult […]

  • 2006 Ends: Another Year, Another Fraud

    At the end of one year and the beginning of another, people seem fixated on changing for the better. Most people think up a resolution or two to get their new year started on a right foot. It seems the […]