Professor Elam

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What’s It Take to Get Kicked Out?

Monday March 22, 2010

CPAs were fined and forbidden to practice before the SEC for three years. Seems these two were cooking the books, no doubt to up the stock price. Hmm, do you suppose they owned some stock?

This is all pretty typical, some CPA that certainly knows better cooks the books, gets his hand slapped, and after a period of supposed contrition, can go right back to accounting for public companies. 

What is your reaction to this sort of thing?

Note to readers, I replaced the original linnk  which would not connect with one that does, this is more descriptive of what went on, click and read.

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One response to “What’s It Take to Get Kicked Out?”

  1. Vanessa Ramirez Avatar
    Vanessa Ramirez

    This both upsets and embarrasses me. How can I expect people to trust me, as their accountant, to handle their finances if they’re afraid I will lose or steal it? How bad does the damage have to be for these crooks to lose their certification? Or better yet, be forbidden to handle any monetary activity? If they do it once, get a slap on the wrist and are allowed to go right back to what they were doing then what’s to stop them from doing it again?

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