GM is in trouble again and this time it’s worse than some weak internal controls or even a bankruptcy. Cost cutting may have discouraged the prompt replacement of faulty ignition switches now linked to at least 13 fatalities and the recall of 2.6 million vehicles. Are you still glad we bailed the company out?
Archive for the ‘Food for Thought’ Category
The AgFeed case is the mother lode for an SEC that says it’s ready to rack up some accounting fraud enforcement points and, perhaps, pursue a more aggressive enforcement approach to sparsely utilized Sarbanes-Oxley provisions like Section 304, clawbacks.
According to Freelancers Union, almost one-third of the American workforce is independent. That’s nearly 42 million people and growing. The staffing industry, which should support the wave of new freelancers, hasn’t adapted since William Russell Kelly founded the Russell Kelly Office Service in Detroit in 1946.
Here’s a breakdown of some of what’s the same and what’s different about these three cases.
How do professionals forget what’s right and wrong? Adolf Eichmann was a “new type of criminal, who is actually hostis generic humani . . . [and] commits his crimes under circumstances that make it well-nigh impossible for him to know or to feel that he is doing wrong.”
I’ve been a part of Eric Jackson’s annual “picks” post for Forbes for the last few years. Take a look at my “sleeper ideas” for 2014.
Could the audit industry, which thrives on a government mandate that subsidizes an oligopolistic business model, survive if we went, catastrophically, from four to three global firms?
“Auditor-turned-journalist Francine McKenna, writing at Medium, has some cautionary advice for journalists on reporting unaudited and unverified financial information.”
If the JP Morgan “Whale” settlement was a true Sarbanes-Oxley success story, we’d see some bank executives going to jail. For a change.