Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Audit
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Monday July 16 2012 JP Morgan managed to hit its projected earnings to the penny, even after the Whale trading losses ballooned form $2 B upwards. How did they do that, this article answers the question Oh one third is resuced by not having to pay taxes on the loss, tax benefit it is called…
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Weekend July 14, 2012 The Burning Platform blog indicts both the futures industry and the lack of audit control in the Peregrine Futures scandal. Yep it's Bernie Madoff all over again. This time the CEO admits, after attempting suicide, of falsifying bank statements for many years. While auditors routinely send out statements for confirmation, the CEO supplied a…
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June 27, 2012 Gimme Credit is the clevely titled name for a a site that performs respected bond analysis. Their latest call invovles a potential bankrutpcy for Navistar. Nvistar has bet the farm on the EPA approving its EGR engine technology. So far that has not happened. NAN earned a series of credits that it has…
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Wed June 27, 2012 Stockton CA may well take Chapter 9 bankruptcy this week. This would be the largest city in the US to do so. A crumbling real estate market, dropping property taxes, and union pension costs are the cause. Wells Fargo foreclosed on the proposed City Hall Building. This last link is to Mish's site.…
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Tuesday May 29, 2012 The legal profession has been idolized in the media for years. Prominent tv shows have featured lawyers, always brilliant of course, as well as movies. The same is true for the series of Grisham novels. Now however ther are law school grads suing their alma maters for not being able to…
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Monday May 14, 2012 Today's WSJ is an absolute must read,I will keep it, for students of derivatives and internal auditing. Here is a short checklist for the need for further substantive procedures with a nod to Jeff Foxworthy's You Might be a Redneck You might need more substantive procedures in the trading department if…
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Wed nesday April 11, 2012 A group of TAMUSA students were invited to the San Antonio Insitute of Internal Auditor Luncheon. Only UTSA and ourselves were on the invite list! A three person panel from Audit Committees of various firms held forth on the responsibilities of their committees. Left to right we have Travis Case,…
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Thursday Apirl 19, 2012 Do you know Rita Crundwell? I didn't either until today but she is going go make the Rogues Gallery of Who Do you Trust in small town America. I find these things fascinating because I once had a serious fiduciary position with a small county. Students are aware that I regularly…
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Wed April 18, 2012 11;43 AM CST The City of San Antonio will soon have a job announcement looking to fill an Auditor I position. COSA’s job postings can be seen at the web address below: http://www.sanantonio.gov/hr/jobs/index.asp This would be an Internal Auditor position. I think this is right up the alley so to speak…
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Saturday March 24, 2012 The San Antonio Internal Audit Institute will host up to eight students per campus April 11. While the location has not been announced It is always along norht 410 or I 10 just north of 410. The time will be from 11 30 to 1 00 PM I have three…
Professor Elam 