An Example of Hubris, Incompetence, and Greed I always tell my students that the best way to learn about ethics, or the lack thereof, is through a case study. What follows is a mini-case study of the FTX fraud. Last week Sam Bankman-Fried was found guilty of misappropriating and embezzling... Read more →

OVERVIEW OF THE PANEL DISCUSSIONS: I am moderating a panel at the 2023 Ethics Symposium presented by the Public Interest Section of the American Accounting Association (AAA). The panelists are well-known observers of financial statement fraud and critics of audit failures. They will look back and forward to assess where... Read more →

Protections and Retaliation What makes one person speak out and blow the whistle on wrongdoing while another remains silent? Is it a “moral sense,” as Thomas Jefferson wrote, that instinctively motivates a person’s thoughts and actions? Is it motivated by avoiding harm to others? Is the act of blowing the... Read more →

Why is America Such a Violent Country? The number of senseless murders that have occurred in the U.S. in 2022 is alarming, several of which have occurred in November alone. We need to recognize that the country has now returned to the days of the “Wild West” that began after... Read more →

Cheating on Internal Training and Ethics Exams Is a Wake-Up Call for the Accounting Profession By Michael K. Shaub, June 29th, 2022 The following is a a very thoughtful blog published by my friend and colleague, Mike Shaub. Mike addresses the recent scandals where three of the four Big Four... Read more →

A Cult of Personality Blinded Others to Their Schemes Today's blog is long but comprehensively addresses two of the most interesting cases of how not to run a business. For educators, it could be the makings of a case study to use in the classroom. I recently watched a streaming... Read more →

Professional Obligations of Accountants to Clients You may have heard that Donald Trump and the Trump Organization’s accountant, Mazars USA, split up after Mazars sent a letter dated February 9, 2022 to the Trump Organization. The letter was included in a court filing and said that “the Statements of Financial... Read more →

Disconnect Between Democrats and Republicans Moral Values are inter-linked with ethical standards and establish a framework for right behavior in society. Morality in the U.S. is on the decline, which is the topic of today's blog. Is there a disconnect between the Democrats and Republicans with respect to how they... Read more →

Examining the POGO Report and Other Matters It’s been twenty years since the Public Company Oversight Board (PCAOB) was created by the Sarbanes Oxley Act of 2002 (SOX). This is a good time to evaluate the mandate given to the board, it’s work during that period, and whether it is... Read more →

It Starts Out with an Email to Renew Services You Don't Have Last Friday was one of the worst days of my life. I received an email from someone claiming to work for Norton LifeLock. The email, copied below, claims that I use their services and need to renew for... Read more →