Largest Penalty Fine Ever by the SEC for Ernst &Young (EY) Cheating

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, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, the Securities and Exchange Commission (SEC) said the cheating involved hundreds of EY’s workers from 2017 to 2021, resulted in the largest penalty ever imposed by the agency against an auditing firm. Questions: What amount was the fine imposed by U.S. securities regulators? What were the three (3) charges… Read more »

Grandmaster Scandal

Posted by & filed under Accounting Principles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting.

Gaioz Nigalidze’s rise through the ranks of professional chess began in 2007, the year the first iPhone was released. In hindsight, the timing might not be coincidental. Questions: 1. What other instances have you heard of about cheating with an iPhone or smart phone? 2. What characteristic of this story constitutes fraud? 3. Who would… Read more »