It’s déjà vu for investment bankers
We’ve been there before. The movie “The Big Short” explains how and why the financial services industry helped to bring down our economy during 2007-08. Banks took home mortgage loans that were made based on shaky credit and pooled them into a basket of mortgage-backed securities (MBS) that were backed by the homes. These were Read More →
Corporate tax inversions unethical
You say you have a U.S. corporation and want to reduce corporate income taxes? Agree to be acquired by an Irish company and re-incorporate in Ireland. You’ll only pay 12.5 percent corporate income taxes rather than the 35 percent rate in the U.S. But wait. There’s more. Ireland recently announced that it reduced the rate Read More →
Corporate social responsibility on hold when it comes to outrageous drug prices
Imagine you just went to your local pharmacy and were told that the cost of a life-saving drug was $22,500 for 30 tablets to treat AIDS or another infectious disease. Well, if you need the drug Daraprim, that is what you would have to pay. Turing Pharmaceuticals purchased the right to Darprim this past August Read More →
Can commercialism, professionalism co-exist in accounting profession?
What we see today in the accounting profession is troubling. Increased commercial activities threatens the independence cornerstone of the profession that underlies its public interest obligation. Audit firms are pushing the envelope in their involvement with non-audit services that makes it appear as though they might compromise their independence on the audit because of these Read More →
