Professor Elam

Accounting & Investing Info for San Antonio A & M

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Category: Ethics

  • Another Month, Another SA Ponzi Scheme

    Wed April 247 2022 Meet Chimene Van Gundy, the Queen of Mobile Homes aka the Mobile Home Millionaire.   Or maybe not. After multiple marriages and children she read Rich Man Poor Man and says it changed her life. Well here and her 'investors.' All Ponzi schemes exhibit a sketchy business model, this one even…

  • Naughty IRS Employee

    Wed April 13 2022 This hIRS employee submitted false returns using fabricated informatrion. This cost the IRS $74,000. Now why would someone risk years of jail over  $74,000?

  • Using Cash Flow Statement to Spot Fraud

    Tuesday April 5 2022 Using the Statement of Cash Flows to Spot Fraud  Fraud studies show that cash is the most frequently stolen business asset. For example, cash on hand or cash receipts may be taken directly by employees. Or cash may be misappropriated indirectly through fraudulent disbursements, such as payroll, billing, expense reimbursement and…

  • The Revolving Door Between IRS and the Big Four Accounting Firms

    Tuesday March 22 2022 In the movie Casablanca, Captain Renault is ordered  by the occupying Germans to shut down Rick's Cafe.   He announces he is shocked to learn there is gambling in the establishment, as he calls for closure he is handed his winnings by one of the staff, this is a classic scene.  …

  • Temple University Business Dean Sentenced to 14 Months

    Weekend March 12 2022 Moshe Porat former Dean of Temple Univ Business School is sentenced to 14 months. He fed US News and World Report business school rankings false information to improve the shcool's standings. Temple without admitting guilt has repaid some students.

  • Putin’s Luxurious Life

    Thursday Feb 17 2022 Vlad is having  a great year. See Feb 15  post onThe Ukriane. Rumor has it this is his Palace on the Black Sea. notice there are 6,813 comment to this article.   and then there is the recently re furbished yacht re done in Germany   Note small boat in this…

  • Unemployment Fraud

    Wed Feb 2 2022 One social security number netted this fraudster $222,000 from 50 states. Hmm could internal control for Unemployment benefits be tightened up a bit?

  • UK Investigates KPMG Jr Auditors

    Jan 31 2022 Another month, another KPMG investigation. Take a read on an unusual case where the junior level auditors did not act appropriately. ' How is it that KPMG shows up so often in such investigations?  Recently we have had the national audit CEO sent to jail for PCAOB violations Fines for over 1,000…

  • Book Keeper Gets Seven Years to Do

    Tuesday Jan 25 2022 Irene Scott stole $1.7 M from the law firm employing her. She had the nerve to seek unemployment payments after being fired for her theft She is now looking at seven years to do in Federal Prison

  • Response from Emerson Society

    Weekend Jan 23 2022 I wrote about my use of Emerson essays in my audit and ethics classes. I thought the President would find the application of Emerson to current business teaching and practices. Here at Tamusa we are encouraged to have students 'write across the curriculum' as well as present in class. You can…