Columbia University fined $9.5 million for Overcharging Medical Research Costs

Posted by Serkan Saka. Have you ever thought how important it is for universities to receive government research support? As we know that reputation is also very important for all the universities. Columbia University one of the best universities in the world and a top university for medical research. Recently, however, Columbia requested research funds …

First Federal Unit to Identify Wrongful Convictions

The U.S. Attorney’s Office in Washington D.C. is the first federal office to set up a unit to identify anyone wrongfully convicted of a crime.  The Conviction Integrity Unit will review cases where defendants offer new evidence that was not available at the original trial, such as DNA evidence, to prove their innocence.  Ronald Machen, …

Tesco Agrees to Pay $162 Million Fine Over Accounting Scandal

Posted by Alhanouf Almubarak. This case discusses Tesco the Britain’s biggest retailer accounting scandal. In October 2014, the Serious Fraud Office (SFO) began a criminal investigation into accounting practices at Tesco. Chris Bush, (Tesco’s former managing director), Carl Rogberg (former finance chief), and John Scouler (former food commercial head) were charged with fraud over an accounting …

Ex-Goldman Sachs Trader Salem Renews Fight For $5 Million

Posted by Ovais Ahmed. An article posted on bloomberg.com talks about an appeal made by ex-Goldman Sachs trader Deeb Salem to get an extra $5 million he thinks he deserves in bonus money. He has already received $8.25 million and still wants to get more money out of his former company. I don’t understand why the …

Liberty of Contract: Removal from the “Anticanon”

Research proposal posted by Elizabeth Donald. Part One: Topic Explanation Liberty of contract was originally introduced into U.S. constitutional jurisprudence through the case of Lochner v. New York, 198 U.S. 45 (1905). In this case, Joseph F. Lochner challenged a provision of the New York Bakeshop Act of 1895 that prohibited bakers from working more …

Cyber Attacks on Corporations – The “New War”

Hacking into computer systems is nothing new, and government and businesses alike have always been aware that they must be one step ahead of computer criminals. But the attack on Sony Pictures Entertainment was more than that. It was a shot across the bow in what appears to be a potentially rampant future form of warfare. As …

Examine Cyber Monday Deals Closely and Shop Safely

Posted by France Jennica Osmann. As the holidays are approaching, Cyber Monday is the main day of the year where families are out for great deals for Christmas shopping online. A recent article in the San Jose Mercury News stated: Cyber Monday is not the only day to find good deals online during the holiday season. If …

New Standards in the PCAOB

Posted by Kimberly Culcay. In the article, “What the PCAOB’s new related-party standard means for auditors,” Maria L. Murphy captures the new standard put in place by the Public Company Accounting Oversight Board (PCAOB). The new standard will require auditors to perform specific procedures that are intended to strengthen auditor performance in high-risk areas, such …