Posts Categorized: Ethical Dilemma

KPMG’s Most Recent Fine

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to Accounting Today, KPMG faces a 15M pound fine (or $21M), for gross misconduct in the U.K. Questions: What were the name of the company and the private equity firm that relied on misstatements by KPMG? What was the name of the partner at the head of the consulting engagement? How many times did… Read more »

Disturbing trend

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According to Benefits Pro.com, life insurers will have to prepare for the possibility that the life span of life insurance policyholders, annuity holders and pension plan participants could fall. Questions: According to the article, the provisional life expectancy at birth in the first half of 2020 was at its lowest level since what year? Is… Read more »

Data Breach at McDonald’s

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to CNN, McDonald’s is the latest high-profile company to be affected by a data breach, leading to the exposure of private information of customers and employees in South Korea and Taiwan. Questions: What type of data was accessed? What does McDonald’s credit for finding the breach? Did the company experience a data breach in the U.S.? Source:… Read more »

Deep Fakes

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, many people are finding that they cannot trust reviews posted about a health-care provider’s site. Questions: What is Fake Review Watch and what have they been doing? When may posting fraudulent reviews be illegal? How many actions have been taken against California doctors over the past four years for fake… Read more »

Recovery of Ransom by Feds

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the Washington Post, federal authorities have recovered more than two million dollars in cryptocurrency paid in ransom to foreign hackers whose attack last month led to the shutdown of a major pipeline that provides nearly half the East Coast’s fuel, according to officials. Questions: What is the name of the hacker ring? How… Read more »

Big Shakeup!

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The Securities and Exchange Commission abruptly removed William Duhnke as chairman of the Public Company Accounting Oversight Board.  Questions: According to the new chair, what does this firing report to do? Why has the PCAOB come under recent scrutiny? How long has Duhnke been chair? According to the article, why shouldn’t PCAOB members be replaced… Read more »

For Sale: The Lease to the Trump Hotel in Washington D.C.

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, Donald Trump’s company will again try to sell the lease for the D.C. hotel. Questions: What event prevented an attempt to unload the property the first time? According to Trump disclosure forms, how much did the revenue for the hotel drop last year? What has been the average recent occupancy… Read more »

Drilling Leases in Arctic National Wildlife Refuge Suspended

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According to the New York Times, the Biden administration suspended oil drilling leases in the Arctic National Wildlife Refuge, unspooling a signature achievement of the Trump presidency and delivering on a promise by President Biden to protect the fragile Alaskan tundra from fossil fuel extraction. Questions: How much oil is estimated to lie in this… Read more »

Sixteen States Whipsawed by the Pandemic

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According to the New York Times, new claims for unemployment benefits are inching down and a growing number of Republican governors around the country have announced that they are withdrawing from an array of federal pandemic-related jobless benefits. Questions: Based on this withdrawal, how many workers will lose jobless claims and over what period? What… Read more »

The Challenges of an Intern: Evidence Destruction

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Fraud Accounting, Uncategorized.

According to the Washington Post, Mary Goddard, a former intern at the Sununu Youth Development Center in New Hampshire, says a supervisor suggested she destroy her notes and lie about a teen’s sexual assault allegation. Questions: What did the intern do? What happened to her supervisor? What would you have done as an intern? What… Read more »