• More internal control problems at Fannie Mae

    For the second year in a row, Fannie Mae is postponing the filing of its annual report with the U.S. Securities and Exchange Commission. Fannie Mae is also likely to issue a management report, stating that its internal controls over […]

  • Alleged Thief of Natural Gas Claims His Confession Was Coerced

    A man accused of stealing upwards of $36,000 in natural gas says he broke no laws, and only admitted to wrongdoing after police wore him down. He says the statements given during his confession were false. Warren J. Krohn of […]

  • Borrowers with adjustable rates having trouble

    In recent years, adjustable rate mortgages (ARMs) have been very popular with home buyers. Low interest rates allowed buyers to purchase larger houses than they might otherwise have been able to afford. But as the end of those ARMs draws […]

  • Who Wants to Work at Wal-Mart?

    This past January, 24,500 people applied for the 325 jobs available at a Wal-Mart just outside Chicago’s city limits. All but approximately 500 of the applicants listed Chicago as their address. The Wal-Mart was built in Evergreen Park, one block […]

  • Milwaukee Public Museum Will Not Have a Forensic Audit

    Note sent to those who submitted proposals: This is to inform you that at its meeting today, the Milwaukee County Board of Supervisors did not approve, by the required two-thirds majority vote, funding from the Contingency Fund for a forensic […]

  • Financial Statement Fraud Under Fire

    Written by Tracy L. Coenen, CPA, CFF OSCPA Wire – Oklahoma Society of CPAs Newsletter Any natural disaster creates opportunities for fraud and that’s exactly what recent wildfires have done. Dishonest executives have a chance to manipulate their financial statements […]

  • Fastow testifies in trial of Enron’s ex-executives

    The former CFO of Enron Corp, Andrew Fastow, has testified in the criminal trial of former Enron executives Jeffrey Skilling and Kenneth Lay. Fastow has already admitted to stealing millions of dollars from the company. His testimony included discussion of […]

  • Another Twist to the Bielinski Brothers Story

    Last week’s scheduled sentencing of former Bielinski Brothers CEO Robert Brownell was postponed after he was allegedly mugged outside his home a few days prior. Federal prosecutors now say that the mugging was staged by Brownell, who had his 14 […]

  • Enron’s ex-CEO will testify this week

    Andrew Fastow, the former CEO of Enron will testify this week in the trial of Kenneth Lay and Jeffrey Skilling. Fastow created partnerships to do financial “deals” with Enron, but the partnerships did not meet accounting requirements to make them […]

  • 9/11 insurance claim by U.S. Airways is denied

    U.S. Airways filed an insurance claim with its carrier, PMA Capital Insurance, following September 11, 2001. The claim was for a loss of business related to the terrorist attacks, because Reagan National Airport was closed from September 11 to October […]