These talks create a great opportunity for me to help students understand ethical issues and importance while gaining insight into what future business leaders face in their current professional settings.
It was an absolute pleasure to speak to the graduating class of the Executive MBA program at the University of Texas at Dallas recently.
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.
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.
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.
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!
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.
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.
Recently I was asked to participate in AWTT’s Speaking Truth to Youth video series, which, in their words, “reflect AWTT’s belief that our portrait subjects are not superheroes but real people whose work is driven by moral courage and a passion for truth and justice.”
I spoke recently at the new Dallas campus of Texas A&M Commerce University to their graduate and undergraduate business students and alumni, with many others, including some Texas A&M financial planning students, attending virtually via zoom. Professor Jared Pickens, the organizer of the event, asked me to speak on “Ethics in the Last and Next… [Read More]