internal controls

Undetected Material Weaknesses in Financial Reporting Controls: Who is to Blame?

Accountability, Accounting Profession, Workplace behavior / Leave a Comment /

Is it a Personnel Issue? Recently, a reporter from the Wall Street Journal, Mark Maurer, asked to interview me about the question: “Are companies picking a new finance chief after detecting a material weakness in their financial reporting controls, at least in part due to a shortage of skilled accounting staff?” The idea is that the two […]

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The Story of FTX and Sam Bankman-Fried

Accounting Profession, Business Ethics, Business Fraud, Whistleblowing, Workplace behavior / Leave a Comment /

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

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