Ethics

Tax

More whistleblowers needed, organizational transgression appears to be growing

Whistleblowers are still a major source for uncovering fraud and wrongdoing within companies, but being a whistleblower is a difficult, arduous process with an uncertain conclusion.
A&A

Rebuilding our economy in 2010: How SOX helps to build trust

Our founders understood that, to the degree that citizens could not self-govern their own behavior internally, then external government would have to step in and govern their behavior.

Oxley named as chair of Ethics Resource Center

Michael G. Oxley, a former member of Congress best known as cosponsor of the Sarbanes-Oxley Act of 2002, has been elected chairman of the board of directors of the nonprofit Ethics Resource Center (ERC).

AICPA Interpretation 101-3 fundamentals

Interpretation 101-3 addresses whether and to what extent professionals may perform nonattest (i.e., tax and consulting) services for their attest clients.
A&A

New Code of Ethics will facilitate global convergence

Earlier this summer, the International Ethics Standards Board for Accountants (IESBA) issued a revised Code of Ethics for Professional Accountants.
A&A

Social networking presents serious concern to business owners

Fifty-eight percent of executives agree that the reputational risk of social networking should be a boardroom issue.
Tax

Claiming a Warren Buffett connection couldn't save these investment bad guys

The Securities and Exchange Commission has obtained an emergency court order to halt an ongoing scheme by a Palmdale, CA company and two individuals who defrauded investors through a series of false claims including that Warren Buffett is associated with the company.The SEC alleges that International Realty Holdings, Inc. (IRH), Ottoniel Medrano, and Leticia Isabel Medrano raised hundreds of thousands of dollars from investors in several states since October 2008. Ottoniel Medrano is a prison guard at California City Correctional Center.
Tax

SEC freezes assets of Chicago-area investment advisor

The Securities and Exchange Commission has obtained an emergency court order freezing the assets of a Chicago-area investment adviser and two of its principals who are alleged to have misappropriated more than $4 million in client assets by transferring them to third parties, and incorrectly reported the net asset and other investment values to investors.The SEC charged The Nutmeg Group LLC, owner and managing member Randall Goulding, and chief compliance officer David Goulding for misappropriating client assets, making misrepresentations to their clients, failing to comply with Nutmeg's cu

Greenwashing: Is this business green or only greenish?

Green has many meanings. Green can mean fresh. But green cheese is spoiled. A green employee could be a rookie on the job, or a staff member who got sick eating the green cheese. A green bottom line is flush with profits. A green business is environmentally friendly. Of course there is the actual color green. And then . . . there's greenwash. Greenwash or green sheen occurs when a company understands that being green is good for business, therefore markets itself as green without making any real efforts toward being environmentally friendly.

New CFP ethical standards about to go into effect

New ethical standards for financial planners who are authorized to use the CFP certification marks go into effect on July 1.

AICPA adopts new ethics standard

Regulators like the U.S. Securities and Exchange Commission, state insurance commissions and federal banking agencies presently prohibit organizations under their jurisdiction from entering into certain types of indemnification and limitation of liability provisions in agreements for the performance of audit or other attest services.

The American College to host Webcast on leadership and ethics

At a time when the role of ethics at work is receiving increasing attention, The American College will convene a thought provoking Webcast on the subject with several industry leading experts."The Role of The Ethical Leader: How To Put Ethics Into Practice in Financial Services," will be held on March 4, 2008 as the kick-off event in The College's celebration of Ethics Awareness Month for the financial services industry.

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