Comments for Fraud Author Tracy Coenen http://fraudauthor.wordpress.com writes about fraud detection, fraud investigation, and fraud prevention. Fri, 25 Jul 2008 10:37:34 +0000 http://wordpress.org/?v=MU Comment on Enron: The Ugly by aulelia http://fraudauthor.wordpress.com/2008/04/22/enron-the-ugly/#comment-215 aulelia Tue, 17 Jun 2008 15:02:12 +0000 http://fraudauthor.wordpress.com/?p=134#comment-215 @tracy, deregulation is one thing but I believe it helped to allow Enron to keep messing about. I do think it played a big part in it. Although, perhaps the political structure of the US, ie, federalisation, helps to. I think the Enron scandal could have happened anywhere in the world that espouses a strong attitude towards deregulation but perhaps the irony was laid thick due to the fact that the US has a position in the world as being seen as this beacon of economic individuality when in fact Enron just proved that economic individuality can contribute to fraud. good post. @tracy, deregulation is one thing but I believe it helped to allow Enron to keep messing about. I do think it played a big part in it. Although, perhaps the political structure of the US, ie, federalisation, helps to.

I think the Enron scandal could have happened anywhere in the world that espouses a strong attitude towards deregulation but perhaps the irony was laid thick due to the fact that the US has a position in the world as being seen as this beacon of economic individuality when in fact Enron just proved that economic individuality can contribute to fraud.

good post.

]]> Comment on Enron: The Ugly by Tracy Coenen http://fraudauthor.wordpress.com/2008/04/22/enron-the-ugly/#comment-214 Tracy Coenen Tue, 17 Jun 2008 14:23:22 +0000 http://fraudauthor.wordpress.com/?p=134#comment-214 No. Deregulation is a good thing. This fraud had to do with unethical people and the demands of Wall Street (rising stock price to the detriment of all else). No. Deregulation is a good thing. This fraud had to do with unethical people and the demands of Wall Street (rising stock price to the detriment of all else).

]]> Comment on Enron: The Ugly by aulelia http://fraudauthor.wordpress.com/2008/04/22/enron-the-ugly/#comment-213 aulelia Tue, 17 Jun 2008 10:13:56 +0000 http://fraudauthor.wordpress.com/?p=134#comment-213 @tracy, do you think that the case of enron was also about the failure of the US capitalist obsession with deregulation ? it definitely highlighted its flaws. the senate hearings with skilling looking like a wild goose illuminate that, imo. @tracy, do you think that the case of enron was also about the failure of the US capitalist obsession with deregulation ? it definitely highlighted its flaws.

the senate hearings with skilling looking like a wild goose illuminate that, imo.

]]> Comment on Fraud by upper management: Chainsaw Al Dunlap and Sunbeam by Weijand http://fraudauthor.wordpress.com/2007/09/19/fraud-by-upper-management-chainsaw-al-dunlap-and-sunbeam/#comment-192 Weijand Thu, 05 Jun 2008 13:17:36 +0000 http://fraudauthor.wordpress.com/2007/09/19/fraud-by-upper-management-chainsaw-al-dunlap-and-sunbeam/#comment-192 Hmm, I think fraud is not the correct word here. The visionary capabilities of Dunlap are quite astonishing. At Sunbeam he was apparently overconfident because of the success at Scott Paper. And I don't like his methods but Sunbeam was already in an awkward position and his start was certainly good but he wanted success to soon and overdid it. Calling him a criminal is a little bit shortsighted by my opinion. Nevertheless, kind regards, Carel Hmm, I think fraud is not the correct word here. The visionary capabilities of Dunlap are quite astonishing. At Sunbeam he was apparently overconfident because of the success at Scott Paper. And I don’t like his methods but Sunbeam was already in an awkward position and his start was certainly good but he wanted success to soon and overdid it. Calling him a criminal is a little bit shortsighted by my opinion.

Nevertheless, kind regards,
Carel

]]> Comment on Red Flags of Fraud: Work Habits by P.R. http://fraudauthor.wordpress.com/2008/06/03/red-flags-of-fraud-work-habits-2/#comment-191 P.R. Wed, 04 Jun 2008 14:44:10 +0000 http://fraudauthor.wordpress.com/?p=151#comment-191 We had a lady at my job who stole a ton of money. Everyone always thought she was so helpful and nice. It turns out that she was really stealing and was being nice so no one would suspect her. Sheesh! We had a lady at my job who stole a ton of money. Everyone always thought she was so helpful and nice. It turns out that she was really stealing and was being nice so no one would suspect her. Sheesh!

]]> Comment on Auditors and fraud: Auditing rules by Melinda http://fraudauthor.wordpress.com/2008/05/01/audits-and-fraud-auditing-rules/#comment-152 Melinda Thu, 01 May 2008 19:14:40 +0000 http://fraudauthor.wordpress.com/?p=137#comment-152 Well isn't part of the problem also the fact that maybe the auditing rules just haven't kept up with changes in business? Well isn’t part of the problem also the fact that maybe the auditing rules just haven’t kept up with changes in business?

]]> Comment on Auditors and fraud: Auditing rules by Stella R. http://fraudauthor.wordpress.com/2008/05/01/audits-and-fraud-auditing-rules/#comment-151 Stella R. Thu, 01 May 2008 15:54:31 +0000 http://fraudauthor.wordpress.com/?p=137#comment-151 I do feel that our auditors are doing more work than they used to, but the cost increase has not been proportionate. We are being charged way more for this little bit of extra work! I do feel that our auditors are doing more work than they used to, but the cost increase has not been proportionate. We are being charged way more for this little bit of extra work!

]]> Comment on Auditors and fraud: Auditing rules by James Kleisch http://fraudauthor.wordpress.com/2008/05/01/audits-and-fraud-auditing-rules/#comment-150 James Kleisch Thu, 01 May 2008 15:51:11 +0000 http://fraudauthor.wordpress.com/?p=137#comment-150 I agree that the new rules haven't necessarily improved things. They just helped our auditors charge us more for the same work. I agree that the new rules haven’t necessarily improved things. They just helped our auditors charge us more for the same work.

]]> Comment on Auditors and fraud: Auditing rules by Melinda http://fraudauthor.wordpress.com/2008/05/01/audits-and-fraud-auditing-rules/#comment-149 Melinda Thu, 01 May 2008 15:46:23 +0000 http://fraudauthor.wordpress.com/?p=137#comment-149 The problem I see is that people don't really understand what audits are about or what they say about the financial statements. And the new standards like SAS 99 haven't really helped either. The problem I see is that people don’t really understand what audits are about or what they say about the financial statements. And the new standards like SAS 99 haven’t really helped either.

]]> Comment on Enron: The Ugly by Tracy Coenen http://fraudauthor.wordpress.com/2008/04/22/enron-the-ugly/#comment-137 Tracy Coenen Tue, 22 Apr 2008 18:24:49 +0000 http://fraudauthor.wordpress.com/?p=134#comment-137 Cara - Thanks for the update as this was a reprint of something I wrote before the sentencing/death. As for the manipulation, the list is too long. Enron wasn't a case of bad management. It was a case of fraud, through and through. Cara - Thanks for the update as this was a reprint of something I wrote before the sentencing/death.

As for the manipulation, the list is too long. Enron wasn’t a case of bad management. It was a case of fraud, through and through.

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