Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Audit
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Weekend August 27, 2016 Last Tuesday we reported that PwC was being sued for $5.5 B over the failure of Taylor Bean and Whitaker Mortage. PwC performed the audit and the firm later failed. PwC has now settled the lawsuit. As always in such deals the terms are not revealed but it was 'to the…
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Tuesday August 23 2016 One of my 12 Steps to Conquer Accounting is a subscription to the Wall Street Journal. Assuming of course that one reads it daily. Today several articles caught my eye but this one, DeLoitte Sued over Defunct Bank Audit rings true for both my intermediate and audit classes. The intermediate class…
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Tuesday March 8 2016 Big Four Audit Firms are incrreasinly relying on high tech software to mine big data. More and more CPAs need to be computer savvy, hence the rise of the CISA designation. This is an interesting article showing hos CPA firms are using big tech software to aid in the audit.
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Wed Nov 4, 2015 More public firms are disclosing information on ther relations with the external auditor. This is a part of the idea of transparent governance. I expect this trend will continue.
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Thursday Oct 15, 2015 Audit Committees were given far more power after the Enron collapse. SARBOX dictates that no one in management may be on the audit committee and the audit committee hires and communicates with the outside auditor. Here is an excellent article ont he current responsibilities of the audit committee.
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Wed Oct 7 2015 Here is an example of the sort of information gained by joining as a member of SA Institute of Internal Auditors. I receive almost daily updates via e mail. This article, 12 mistakes auditors should not make, is such an example. It is well written and not so long as to…
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Thursday Sept 17, 2015 The Committee of Sponsoring Organizations COSO recently issued new rules on internal control. This article summarizes that update, this is exactly the sort of article intermediate and audit students should be reading.
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Weekend Sept 7 2015 SA Internal Auditor Fraud Seminar We have been invited to have student workers at the registration desk. This is a great networking and learning opportunity. E mail me of your interest. I had this date right in my original post but somehow it got incorrectly reported as Sept 4. Sept 14…
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Thursday Sept 3, 2015 Links to the Big Four Accounting Firms are on the left side of this blog. There is a great deal of information at all of them. For example, here is an update from IIA on KPMG's Top Ten Internal Audit Risks.
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9 30 – 11 30Thursday August 27, 2015 Hi Dr. Elam and Dr. Welch, I hope school is off to a good start. We would like to have 1 or 2 students from each of you schools to serve as volunteers for the Member Appreciation Seminar on September 14th. They can either stay for just…
Professor Elam 