Nov 29, 2013 | Uncategorized
Three Louisiana pension funds invested a combined $100 million in 2008 in Fletcher Asset Management. Each of the three funds invested from 3.9 percent to 8.6 percent of their assets in Fletcher’s scheme after the firm made a pitch promising to deliver every...
Oct 25, 2013 | Uncategorized
Here is an interesting article in the New York Times. Floyd Norris reports, “The accounting business has sometimes had an attitude of — how shall I put it? — contempt for those who would regulate it. The people who run the major firms know best, and...
Oct 20, 2013 | Uncategorized
Two Florida inmates walked out of prison based on forged documents authorizing their early release from life sentences. This is an impressive prison escape and it shows the importance of an appropriate internal control system.In a letter addressed to Florida’s...
Sep 27, 2013 | Uncategorized
The city of Dixon, Illinois announced on September 25, 2013 it would receive a $40 million settlement from CliftonLarsonAllen, Fifth Third Bank, and Janis Card and Associates for the fraud Rita Crundwell committed and was not detected by the CPA firms or the bank.The...
Aug 9, 2013 | Uncategorized
Please refer to : Send These Auditors Back to SchoolNOTE: The information in this blog comes from indictments and depositions in the civil trial of the auditors for Dixon Illinois. The case is currently on trial. The final verdict will determine the guilt or...