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Why We Should Thank Enron’s Former CFO
Gerard SeijtsArticle IVEY-9B16TC02-EAccounting and ControlToo many people fall into the trap of accepting that it is appropriate to use technicalities and loopholes to break the principles behind rules when they think they can get away with it. According to Andrew Fastow, this is a problem approaching endemic proportions as seen in business deals, political fundraising, and tax avoidance. And as the former chief financial officer of Enron, he knows what he’s talking about. In 1999, Fastow’s unique finan...Starting at €8.20
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BankAtlantic Bancorp Loan Sours: Provisioning for Loan Losses - Teaching Note
Hopkins, Justin J.; King, MartinTeaching Note DARDEN-C-2392TN-EAccounting and ControlTeaching note for product C-2392Starting at €0.00
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BankAtlantic Bancorp Loan Sours: Provisioning for Loan Losses
Hopkins, Justin J.; King, MartinCase DARDEN-C-2392-EAccounting and ControlThis case describes how a smaller retail bank provisioned for loan losses in the period leading up to the recent financial crisis. The bank made a single loan based on an unsubstantiated appraisal that was so large that the quarterly financial statements clearly show how the loan moves to nonperforming status in one quarter, then is partially written off in the subsequent quarter. Despite the large increase in nonperforming loans, the bank does n...Starting at €8.20
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Team Collapse at Richard, Wood and Hulme LLP
Gerard Seijts; Leah NobleCase IVEY-9B12C002-EAccounting and Control, Leadership and People ManagementIn 2008, a senior associate at Richard, Wood and Hulme LLP (RWH) was amazed at the speed with which the audit team for an important client of the firm was rapidly falling apart. Two members had just been fired presumably because they did not pass their chartered accounting qualification examinations; team morale had grown non-existent; there were difficulties in completing the engagement due to lack of preparation from both RWH and the client; th...Starting at €8.20