Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Ethics
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Wednesday May 10, 2017 Nathan Guardia – Big Data Rarely to never do we see a student actually using statistics. Nathan did just that in his study of Big Data. He mentions the frequency of someone at a particular gas station have their identity stolen by a device in the pump which copies card information.…
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Wednesday May 10, 2017 Krystle August, Pete Galvan, Veronica Garza, Juan Mendoza – Robert Scully Fraudster in San Antonio This is interesting in that the whole thing happened between SA and Thailand. He defrauded the IRS and his partners by hiding income and inflating prices. As KPMG learned, the IRS does not take abuse kindly! …
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Wednesday May 10, 2017 Yeret Bustos – Rules Versus Principle Yeret took a look at the principle based IFRS rules versus the Rule Based GAAP we use in the states. The large accounting firms are lobbying in the press for a more principle based system. The poster does a good job of showing the difference…
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Friday April 21, 2017 Deutsche Bank pays various fines for lack of oversight. Deutsche Bank AG will pay $157 million to settle separate accusations that it was unaware of its foreign-exchange traders chatting online with competitors and that it hasn’t properly complied with Volcker Rule constraints on investments, the Federal Reserve said Thursday. In unrelated…
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Thursday April 20, 2017 The Office of the Comptroller opf the Currency is faulting itself for failing to address problems at WFC before it was too late. According to the OCC’s report, examiners met with Carrie Tolstedt, the executive in charge of Wells Fargo’s consumer banking operations, to discuss 700 whistleblower complaints regarding the…
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Monday April 17, 2017 Scott Maarcello was supposed to redeem KPMG's audit reputation. Instead he is now at the center of a scandal. He is a three decade employee who became vice chair of audit, managing a workforce of thousands. The accounting world was stunned last week when Mr. Marcello, KPMG's top audit official, was…
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Monday April 17, 2017 CEO Stumpf and his SalesManager are gone, now shareholders will vote on whether to retain WFC Directors. The Director's 113 page report handily blamed Stumpf and his lieutenant for the problems. Both are now gone. As the NYC Comptroller says, fraud is a matter of accountability and oversight. Mr. Sanger, the…
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Monday April 17, 2017 Two men aged 47 and 53, are suing PwC over alleged improper hiring practices. PwC bills itsel as the place to work for millenials. The two men who appear qualified claim they were turned down because of their age. At issue is the intent of the Age Discrimination in Employment Act.…
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Monday April 17, 2017 Today Monday's WSJ has a quite a few ethically oriented articles, and all are examples of bad behavior. So let's get started. This article contains details on how it was that UAL called on the Chicago Airport Police to forcibly remove passenger Dao from a flight. It seems airlines are obsessed…
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Thursday April 13, 2017 Scrambling to recover from his re accomodate comment, now the CEO of United promises to never forcibly remove a passenger again. Well what if United needed to remove a passenger for a genuine reason? This is a good example of how bad policy leads to more bad policy and mistake after…
Professor Elam 