Baylor University MAcc Visit to Washington DC Agenda

Baylor Visit

Readings:

 

Non-GAAP metrics

http://www.marketwatch.com/story/sec-is-gearing-up-for-next-smackdown-on-bogus-earnings-numbers-2016-09-15

 

PwC’s Trials and Tribulations

http://www.marketwatch.com/story/pwc-faces-three-major-trials-that-could-put-firm-out-of-business-2016-08-12

 

Professionalism Lost: Insider Trading By Public Accounting Firm Professionals

Tom Flanagan, Vice Chairman, Deloitte – Tipper and Trader

http://www.huffingtonpost.com/ryan-blitstein/deloitte-sues-its-own-vic_b_141034.html

http://www.courthousenews.com/2008/10/30/Deloitte.pdf

http://articles.chicagotribune.com/2008-04-13/business/0804111210_1_deloitte-touche-stock-market-tom-flanagan

 

Scott London, Partner, KPMG – Tipper

http://www.forbes.com/sites/francinemckenna/2013/04/10/another-rogue-audit-partner-another-duped-audit-firm/#59867a5f52b8

https://attestationupdate.com/2013/04/12/failing-the-front-page-of-the-wall-street-journal-test-twice-in-one-week/

 

James Gansman, Partner, Tax M&A EY – Tipper

http://www.wsj.com/articles/SB124873671770285097

 

PwC Transaction Services (M&A) Staff – Traders

https://www.sec.gov/news/press/2008/2008-6.htm

 

Independence and Objectivity

Richard Inserro, PwC Director/Bank of Tokyo-Mitsubishi case

https://francinemckenna.com/2014/08/19/pwc-put-guy-who-whitewashed-for-bank-in-partner-spot/

 

EY’s recent troubles http://www.marketwatch.com/story/sec-fines-ernst-young-for-not-spotting-clients-earnings-manipulation-2016-10-18

 

http://www.marketwatch.com/story/sec-fines-ernst-young-in-first-case-over-close-relationships-between-auditor-and-company-officials-2016-09-19

 

KPMG and FIFA

http://www.marketwatch.com/story/fifa-auditor-kpmg-missed-scandal-but-stays-out-of-spotlight-2015-06-03

 

The “Pleasers”

Warren Buffett and David Sokol

http://www.newsweek.com/warren-buffetts-management-bungle-66501

http://www.cnbc.com/id/42355608

http://www.forbes.com/sites/francinemckenna/2011/04/04/the-gnome-of-nebraska-warren-buffett-berkshire-hathaway-and-self-dealing/#44056ce36fd0

 

The Dean Foods Chairman, the Gambler, and The Golfer http://www.nytimes.com/2016/06/10/business/how-keeping-up-appearances-ruined-a-former-dallas-banker.html?_r=0

http://www.marketwatch.com/story/why-it-was-easy-for-investigators-to-find-the-dean-foods-insider-trades-2016-05-19

 

Whistleblowing

 

http://www.accountingtoday.com/news/audit-accounting/whistleblower-protections-and-incentives-for-auditors-and-accountants-78018-1.html

 

https://www.propublica.org/article/the-whistleblowers-tale-how-an-accountant-took-on-halliburton

 

http://www.marketwatch.com/story/whistleblower-in-deutsche-bank-says-he-rejects-8-million-award-2016-08-19

 

http://www.nytimes.com/2016/09/11/business/for-monsanto-whistle-blower-a-22-million-award-that-fell-short.html?_r=0

 

Backdating workpapers

EY workpaper backdating case

Press release https://pcaobus.org/News/Releases/Pages/08012011_OTooleEstella.aspx

Partner: https://pcaobus.org/Enforcement/Decisions/Documents/Peter_C_OToole.pdf

Senior Manager, In the Matter of Darrin G. Estella, CPA, PCAOB Release No. 105-2011-004 (Aug. 1, 2011)

Manager, In the Matter of Jacqueline A. Higgins, CPA, PCAOB Release No. 105-2010-008 (Dec. 3, 2010)

 

Panama Papers/Lux Leaks/Trump’s taxes

 

Backdating documents http://www.marketwatch.com/story/the-practice-of-backdating-reappears-in-the-panama-papers-2016-04-05

 

https://www.theguardian.com/world/2016/jun/29/luxleaks-pwc-antoine-deltour-avoids-jail-but-is-convicted-of-theft

 

http://www.marketwatch.com/story/why-trumps-big-tax-loss-may-not-have-been-a-cash-loss-at-all-2016-10-03