The Sarbanes Oxley Act (SOX), passed in 2002 after the failures of Enron and Worldcom, specifically addressed internal controls and oversight responsibilities for all publicly-traded companies, including banks. SOX mandates that management must establish and maintain “effective” internal controls and must publish a separate “Internal Controls Report” certifying the effectiveness of its internal controls and certifying that there is no fraud.
Resisting Corporate Corruption at the University of North Carolina
The class discussed the case about my experience at Citigroup “Write to Rubin? – Pressure on Underwriting Standards at Citigroup,” focusing on whether or not there were viable alternatives to my writing my email warning Robert Rubin (who was named Chairman of the Citigroup Board of Directors the following day) about the massive fraud I had discovered involving the underwriting and selling of mortgage loans.
UT Dallas Students Recognize Need for Ethical Behavior
students fully recognized the need for ethical behavior and decision-making and the absolute importance of maintaining their personal ethics in their careers. This recognition, truly, is the only way our country can reverse the continued ethical decline we have witnessed.
Reflections of a Whistleblower – The Boom and Bust Cycles
n the Q&A session at the conclusion of my talk, a student asked me about the possibility of another financial crisis, and I told the class that there was no doubt in my mind that our country would be going into another financial crisis, although I could not predict the timing or circumstances involved.
Little did I know at the time that the second and third largest bank failures in our country’s history would be announced that weekend!
What should you do before you report wrongdoing?
Unethical and illegal behavior in both our corporate and government arenas caused our last financial crisis and will, inevitably, cause future financial crises which will harm millions more. Our only hope to change the dangerous direction our country is taking is for individuals who witness illegal and unethical behavior to effectively report that behavior.
Peace and happiness this holiday season
This holiday season, I think of the past year and of those who have supported my efforts to inspire a more ethical world. I hope that this year has been just as memorable for you, your friends, and your loved ones as it has for me. Have a peaceful holiday season and a prosperous new… [Read More]
Wishing you a warm and happy Thanksgiving
I am thankful for you coming here and reading my posts and sharing your stories with me across social media outlets. Your support means more than I can express and encourages me to keep writing. Thank you.
Speaking at the University of North Texas
The ethics students learn and develop now will affect their actions when they become move into the workforce. As Professor Madhuri Bandla emphasized to the students, ethics and integrity are absolutely essential to the accounting profession. Sharing my experience and the actions I have witnessed is my way of helping those essential features become part of a young accountant’s education.
Resisting Corporate and Government Corruption
For the ninth consecutive year, I addressed the beginning full-time Cohort MBA students at the University of Texas at Dallas on the last day of their two-week LEAD camp preparing them for success at UTD and their careers.
SIM Card Fraud, My Personal Experience
How secure is two-factor authentication? It’s the standard of security that most of us understand to be the safest way to operate online. And it’s not as safe as we thought.
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