What the 2024 FTC Data Shows About Fraud Scams I am a devoted fan of the television program American Greed. Many of its segments deal with instances of financial fraud and how it has upended the lives of so many. It also provides good advice on how to set up procedures to catch fraud so […]
Losses From Fraud Are Uncontrolled, but are they Uncontrollable? Read More »
ACCOUNTING FIRMS’ ETHICS SHOULD BE CAREFULLY SCRUTINIZED Having taught both millennials and Gen Z, I’ve always wondered the extent to which values and ethics are considered in the job search decision. Even if they want to consider it in their decision-making process, the question is how to do so. Candidates for positions can’t ask straight
DO MILLENNIALS AND GEN Z CARE ABOUT THE ETHICS OF POTENTIAL ACCOUNTING EMPLOYERS? Read More »
How Do the Scams Work? Last night I watched a segment of American Greed from years ago that explored the role of predatory money managers in professional sports. The segment presented the story of a money manager, Peggy Ann Fulford, who duped athletes including NBA Hall of Famer Dennis Rodman, former NFL player Ricky Williams and other
Predatory Money Managers Are Increasingly Scamming Professional Athletes Read More »
Things to Think About Before Deciding Whether to Blow the Whistle Have you ever wondered when, how, and why whistleblowing first began? I did during the time that I researched whistleblowing cases for a paper that I wrote. I believe you will find the following interesting and instructive. Background The first reported case of whistleblowing
What Have We Learned from Whistleblowing Cases? Read More »
How Corporate Culture Drove Decision-Making The story of Boeing is it placed profits ahead of safety and the result has been a series of crashes/mechanical problems that have led to inspections by the National Transportation Safety Board (NTSB) and litigation by the Securities and Exchange Commission (SEC). In this blog I will address the culture
Boeing: Putting Profits Ahead of Safety Read More »
Creating an Ethical Framework to Mitigate Risk Today’s blog is an update to one previously posted about ethical risks of AI. I’ve added to it a discussion in the Harvard Business Review (HBR). A brief summary follows. Concerns About Ethical Risks According to the HBR article, for companies that use AI, risk aversion is a top
Ethical Risks of AI in the Workplace Read More »
An Example of Hubris, Incompetence, and Greed I always tell my students that the best way to learn about ethics, or the lack thereof, is through a case study. What follows is a mini-case study of the FTX fraud. Last week Sam Bankman-Fried was found guilty of misappropriating and embezzling billions of dollars of his
The Story of FTX and Sam Bankman-Fried Read More »
Looking for the Red Flags of Fraudulent Financial Reporting I recently read an article that describes the results of a study that contends that some company bosses are being placed in a position of power when the company needs “aggressive earnings reports”. In such cases, recruiters are more likely to suggest job candidates with “dark
Do Dark Triad Personalities Explain Aggressive Accounting? Read More »
Personality Traits Might Give Us a Clue I recently read an article that describes the results of a study that contends that some company bosses are being placed in a position of power when the company needs “aggressive earnings reports”. In such cases, recruiters are more likely to suggest job candidates with “dark personality traits”
Looking for the Red Flags of Fraudulent Financial Reporting Read More »
The Big Hustle Theranos was a privately held health corporation that was touted as a breakthrough technology company. It claimed to have devised blood tests that required only exceedingly small amounts of blood and could be performed very rapidly using small automated devices the company had developed. However, the claims later proved to be false. Here is their
What Happened to Theranos? Read More »