Baltimore Business Journal reports that RSM is adding foosball and a moss wall to its office. I’m sure all the people who have been laid off and the staff in India who replaced them will appreciate that.
Sherron Watkins and Cynthia Cooper, the whistleblowers who gave accounting professors something to talk about for the next fifty years, have written an op-ed in NYT: We Exposed Fraud at Enron and WorldCom. Don’t Let History Repeat Itself.
More than two decades ago we blew the whistle at Enron and WorldCom, industry giants whose spectacular falls revealed two of the largest accounting fraud scandals in American history. We know the destruction that fraud causes. We lived through it. We witnessed how unchecked power, collusion at the highest levels and manipulated financial statements can bring down iconic companies, destabilize markets and vaporize billions of dollars and thousands of jobs overnight.
That’s why we are raising our voices now against a proposal by Republican lawmakers to eliminate the Public Company Accounting Oversight Board, a watchdog that Congress created in the wake of those scandals to protect against accounting fraud and audit failure. The rollback of this hard-won safeguard would unleash additional risk into this highly uncertain economic environment and make the next corporate disaster more likely.
Hot take: PCAOB busywork won’t prevent the next Enron. The authors disagree on a fundamental level but acknowledge the PCAOB could do better:
The...
Srinagar, June 28(KNS) National Conference leader and Member of Parliament Aga Syed Ruhullah Mehdi said the party’s fight is for the constitutional guarantee that was taken away in 2019 and urged ...