• 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 […]

  • Adelphia’s Former Executive VP to Serve 10 Months of Home Confinement

    Michael J. Rigas, the former executive vice president of cable company Adelphia Communications Corp. will serve 10 months of home confinement and two years of probation. He will also pay a $2,000 fine. This is his punishment for helping to […]

  • Wal-Mart is looking for an ethics chief

    Wal-Mart Stores Inc. is seeking a director of global ethics to help monitor compliance with its worldwide code of conduct. Wal-Mart currently has 1.6 million employees in 15 countries, and over 6,200 stores. The new director would oversee the Global […]

  • U.S. auto makers pay employees to NOT work

    A longstanding deal with the United Auto Workers means that U.S. auto makers pays billions for employees who don’t work. The “Jobs Bank” program sees to it that over 15,000 unneeded workers continue to earn wages and benefits that often […]

  • 12 year-old sticks a wad of gum to a $1.5 million painting

    Huh??? It’s true. A 12 year-old on a field trip to the Detroit Institute of Arts took a wad of gum out of his mouth and stuck it on a painting worth $1.5 million, leaving a spot of residue the […]

  • Felons Employed by the University of Wisconsin System

    A Legislative Audit Bureau report on the UW System’s employment practices shows that the system employed 40 felons currently under supervision this past fall. (An Associated Press report states 40 felons work for the UW System, but the truth is […]