Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Financial Accounting, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Video Updates.

Questions about the close links between banking regulators and the financial institutions they oversee will come into focus on Monday, when a top official at Britain’s central bank appears before a parliamentary committee here looking into the manipulation of global interest rates.

1. Explain the Libor rate.
2. As a result of this scandal, what types of transactions are affected?
3. What was Tucker’s role in the scandal? What was Diamond’s role?
4. Develop an analogy that would help you explain the scandal to one of your friends.

Scott, M. (2012). Banking Official Faces Panel in Barclays Scandal, The New York Times, July, 8 (Retrievable online at

NYT Video (2012). Business Day Live, The New York Times, July 3 (Retrievable online at