Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Audit
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Thursday Nov 1 2012 Here is a good article on auditing information technology. I am a member of the IIA, looks like this will be a good source of information for us.
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Tuesday October 30 2012 I decided to start additional categories for Politicians, Admired Figures, and Corporations all of whom are clearly nying for top Honors in the the Ethical Fall From Grace Department. It's that time of year, time to look forward to the launch of our spring 2013 Accounting Ethics class. I am always…
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Friday October 26 2012 The PCAOB held hearings at Rice Unviersity on its proposed mandatory Auditor Rotation. I presented on their overall proposal to overhaul the entire audit report as well at last year's Sa Internal Audit CPE day. I suspect the government is working toward the day when all outside audits are conducted by firms working…
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Monday Sept 17 2012 PCAOB dems Audit Firm Work Deficient Take a look at this article which expresses doubts by the PCAOB about the performance of Big Audit Frims. Years after SARBOX the doubts and problems are still there.
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Tuesday Sept 11 2012 This story broke this summer as investigators charged Rita Crundwell with embezzling millions from the small town of Dixon IL. She spent her life working there and rose to Comptroller. The theft was discovered as is usually the case, when Riat was on vacation and another colleague examined the records. It is near…
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Monday Sept 10 2012 The IRA Risk Group examines Bank Stocks. In class today I mentioned that Citi and Bank of America were already trading at 2009 levels even with the market in recovery mode. Please read this article as we will be discussing it in class.
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Thursday August 30 2012 The Texas Highway Patrol Museum was supposed to help the families of officer slain in the line of duty. But as so often happens, eveyrone's money is no one's money in the public sector. The Texas Atty General sued the museum and it is now being liquidated. Here is yet another example of…
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Wednesday August 15 2012 Back in the day to boost Saturn sales, GM would book a sale when they shipped a car to a deaaler. Huh? Now, BMW offered a substantial discount on the immediate purcase of cars to be used as demonstrators. The cars are still in the dealer showrooms but listed as demonstrators. Was that…
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Monday August 13,2012 CA lawmakers now remark that the state budget has lost credibility due to recently uncovered errors. I frankly cannot imagine why any thing about the state of CA would have any credibility to anyone but the fantasy continues on the West Coast. The Parks Dept. has apparently been hiding some funds in a…
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Monday July 16 2012 The IASB which oversees the IFRS regrets the lack of interest by the SEC. That would be the International Accounting Standards Board that oversse the International Financial Reporting Standards wonders why the Securities and Exchange Commission is still dragging its feet over adopting IFRS. I suspect the reason is that US firms…
Professor Elam 