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Telling right from wrong on Wall Street

In Blog by Ian Fraser0 Comments

23 April 2010 One consequence of the Abacus 2007-AC1 fraud, which could yet be the undoing of investment bank Goldman Sachs, is that bond traders are going to have to learn to distinguish between right and wrong, writes Michael Lewis Michael Lewis says: “Just as there was a time when …

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Moore: banking system cannot be rebuilt without forensic inquiry

In Blog by Ian Fraser2 Comments

3 November 2009 Paul Moore, the whistleblower who was personally fired by HBOS chief executive Sir James Crosby for raising red flags about the bank’s sales-mad culture, appeared on Channel 4 News earlier this evening. Moore, whose testimony provided welcome relief from the disingenuous claptrap we heard from guilty bank …

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Time to audit the auditors — and especially KPMG?

In Blog by Ian Fraser3 Comments

8 January 2009 The House of Commons Treasury Select Committee is to cross-examine representatives of the audit profession later this month as part of its investigation into the banking crisis — and it is not before time. At the January 28 session, senior accountants will be grilled over their role …

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Into the moral maze

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: The Herald Business Date: 26 June 2008 Chartered accountants are being advised to live by ethical codes, not just pay lip service to them BUSINESS ethics, or the lack of them, are once again coming to the fore in business circles. This is hardly surprising. The …

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Accountants face up to the moral maze

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Financial Times Date: 3 January 2008 David Molyneaux was leading an ethics course for senior Vietnamese accountants and regulators in Hanoi in August when one participant asked him a tricky question. The delegate had earlier been given a pirated copy of the latest Harry Potter novel …