Accounting & Investing Info for San Antonio A & M
Tuesday April 16 2013
Business Insider reports that Scott London received a few meals, a $12,000 Rolex, and $25,000 for exchanging information about a client. Now he faces prison. What ws he thinking?
One would think he will lose his CPA license over this, especially if he gets jail time.
ON the other hand redemption extends its hand to the Rogue Trader Nick Leeson. Leeson brought down Barings Bank, served time, and now is a Financial Advisor in Ireland, go figure.
Would you hire Scott London?
Maybe as a janitor! I believe once someone accepts a bribe it would be too easy for them to do it again. I feel when it comes to ethical reasoning this person will justify the reason for accepting a bribe. If you are in a position to be offered a bribe then you should have the wisdom to turn it down because of your own ethical beliefs. I use to argue with my undergraduate ethic professor if ethics could be taught in college. I still believe it is a measure to cover up peoples rear ends. We have rules and policies in place that explain right from wrong, I feel by the time you start working you already posses your ethical reasoning. I think what would be a better benefit to students is a critical thinking course were students have to imagine the results of their decisions and compare them to the rules and laws already established.
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I hope we can have a good discussion on this next Saturday in class. Indeed there was considerable discussion on whether ethics could be taught. the case of the KPMG Partner after an apparent clean record for 29 years is most curious, your reputation and position for a fancy watch, strange, most fraudsters start small and conceal what they are doing for years. Perhaps there are other instances in this guy’s past we do not know about. I look forward to your ideas on what a course should be.
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Would I hire him? thats an interesting question. Perhaps a look at what he could be hired for: If you are an infomous art thief chances are you will be hired to detect other art thefts. If you are master forger your career is set once you get out jail. Does this translate to the business world? Not so much just cause you ran a ponzi scam doesn’t mean you can spot one. Now onto this guy specifics, is he good at what he does? Maybe. does he have piss poor instincts in dealing with people? you bet. should you hire him? nah you can do just as well without the baggage. Now lets take a look at hiring him at an ethics position (to show what not to do) not a good fit here either, his crime is so minor as to be below what would qualify him for any sort of procautionary position. He is no master thief, he is no master forger, he is no master computer scammer, his crime does not elevate him enough to make him a desired hire for any reason.
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Carey
as usual you make a great point, Nick Leeson managed to take down an entire bank with his foolishness, all this guy did was embarass himself
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Greed is all it takes a person to commit such foolish act. With so much emphasis on ethical requirements at the AICPA and State Board level, people still commit these kinds of acts. One of my professor once told me: “You cannot teach ethics, its habitual”. I guess that is a right statement. Hopefully, some consultants don’t hire him to defraud other companies or others.
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Professor Elam 
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