Professor Elam: Audit

San Antonio Accounting Societies

Financial Executives international FEI San Antonio
There are 113 local members of this prestigious voluntary group of financial executives. I am a member.
San Antonio Chapter of Management Accountants
San Antonio Chapter of Institute of Internal Auditors
I am on the Board of SA IIA which boasts over 600 members. Its membership has doubled since SARBOX was passed.
San Antonio CPA Society
This is the local chapter of the Texas Society of CPAs. TSCPA is voluntary group separate from actually being a Texas CPA licensed by the State of Texas.
Petroleum Accountants Society of San Antonio PASSA

Local Accounting Firms

BKD
In the last few years several local firms have been acquired, like the Hnake group, by national firms such as BKD.
Grant Thornton San Antonio
Grant Thornton is one of the large national firms occupying the size ladder below the Big Four.l
Padgett Stratemann is now RMS
As San Antonio becomes a bigger player in Texas Business, more national firms are entering this market. A national firm does not start from zero. RMS (http://rsmus.com/) purchased Padgett. This gives the buyer a large client base to start with. Typically the local partners have made a handsome profit on their time at the firm. But seeking to recoup the investment, the buyer typically raises fees knowing some business will be lost. RMS has re located from North Loop 410 to 1604 and 281. Renee Foshee, a tax expert with the firm, is the current SA CPA Society President.
Turner Cleveland PC
Terry Cleveland has addressed our students. Two of our graduates are employed with at this firm.
weaver CPA
Weaver is one of the largest Texas based Accounting Firms.
Hill and Ford CPAs
Kim Ford has addressed our students. She has expanded her practice from tax and write up to forensic investigation and court testimony.
Fisher Herbst and Kemble P. C.
Bruce Howard who was on our Business Advisory Council was the Officer Manger for this firm.
Ridout Barrett CPAs
Tony Ridout has visited and addressed our students many times. We have placed graduates with Ridout for several years.

Financial Consulting Firms

Aventine Hill Partners, Inc.
Beth Hair CEO founded Aventine in San Antonio in 2009. The firm now has offices in Dallas, Austin, San Antonio, and Houston. She formerly was with RGP.
Resource Global Professionals
Susan Hough has been to campus and spoken to our students. She is the San Antonio Manager of RGP. RGP and Aventine are not CPA firms. Instead they offer contract specialists for firms needing specific tasks such as compliance or Controllerships.

Accounting Certifications

Certified Information Systems Auditor CISA
Now that everything is literally on the computer and cyber security becomes a prominent issue, I see more and more accounting professionals with this designation. Previously known as the Information Systems and Audit Control Association, it now goes by the acronym ISACA.
Certified Fraud Examiner CFE
The Association of Certified Fraud Examiners, located in Austin, TX by the way, offers this Certification.
Enrolled Agent EA
The National Association of Enrolled Agents offers the EA exam for tax professionals.
Certified Management Accountant CMA
The Institute of Management Accountants offers the two part exam to become a CMA.
Certified Internal Auditor CIA
The Institute of Internal Auditors offers the CIA, a three part exam as well as four other certifications.
Certified Public Accountant CPA
CPA certificates are issued by State Boards of Acconutancy though the exam is administered by the AICPA.
An Incomplete Laundry List of Existing Accounting Certifications
This list was compiled by a Professor at Sacramento City College.

Geo Politics

Foreign Affairs
:Published by the Council on Foreign Relations
Institute for the Study of War
The Institute for the Study of War advances an informed understanding of military affairs through reliable research, trusted analysis, and innovative education. We are committed to improving the nation’s ability to execute military operations and respond to emerging threats in order to achieve U.S. strategic objectives. ISW is a non-partisan, non-profit, public policy research organization.
Stratfor
This Austin, TX based site was begun by an ex Texas State Professor.

Economic Sites and Blogs

The Price of Everythning
Tim Price reflects on markets from 'across the Pond.'
Yahoo Finance
Still the go to site for market data and links to company profiles, websites, and financial statements.
Zero Hedge
Tyler Durden's site is harder edge than most, serious stuff.
Market Watch
The Wall Street Journal continuously updates with news and article links.
Business Insider
A sort of National Enquirer look at Business Around the World.
Mish's Global Economic Analysis
Mish Shedlock's economic analysis.

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September 16, 2020

Millions in Bribes at Randolph

Wed Sept 16 2020

A Virginia based software engineering firmpleaded guilty to millions of bribes.

A Virginia-based software engineering firm has pleaded guilty to federal charges in a long-running bribery and fraud scheme at Joint Base San Antonio-Randolph that involved hundreds of millions of dollars in government contracts.

William Dunn, the majority owner and president of QuantaDyn Corporation, entered the guilty plea on behalf of his company to conspiracy to commit wire fraud.

A criminal trial for three others involved is set here early next year. They were indicted in January and face conspiracy and fraud charges in a contract scheme that allegedly ran from 2006 to 2018.

Where were the internal auditors?

Posted at 04:12 PM in Audit | Permalink | Comments (0)

September 07, 2020

Robinhood Under Scrutiny

Reported in Thursday Sept 3 WSJ

Robi

nhood Markets faces a civil fraud investigation over its failure ot fully disclose the practice of selling client orders to high speed trading firms.

This speaks to transparency and good governance which we study in Audit.

Posted at 11:38 AM in Audit | Permalink | Comments (0)

EY Losing German Clients

Posted Monday Sept 7 2020

In the Thursday Sept 3 WDj, Ernst and Young has lost two prominent clients in Germain over the Wir3ecard scandal

Comerzbank and Deutsche Bank wil not be using EY.

Commerzbank is a creditor of Wirecard and DWS is a investor. so there would be a conflict of interest. Now that we are down to four International Acct Firms this will be a more frequent ocurrence,

Posted at 11:36 AM in Audit | Permalink | Comments (0)

August 27, 2020

China Still Deficient on US Audit Demands

Thursday August 27 2020

The US threatens to remove Chinese companies from US listing on exchanges unless they fully cooperate on

haccess to audit working papers.

The recent fraud at Luckin Coffee in China could not have come at a worse time.

These are good examples of the problems with globalization and a central govt that will not be open in business dealings

Posted at 03:59 PM in Audit | Permalink | Comments (0)

June 17, 2020

The Latest from Going Concern

Wed June 17 2020

Goingconcern.com is not your typical accounting blog. This is literally a tell it like it is blog.

BDO stil struggling to recover audit deficiencies

Why Accountants Can''t Use Spreadsheets

Posted at 10:50 AM in Audit | Permalink | Comments (0)

March 23, 2020

Link to Gleim

Monday March 23 2020

Here is the correct link to access Gleim Audit Questions

https://www.gleim.com/?promoID=PLED-TAMU-SA-SPR(20)-ACCT-4311

Posted at 08:17 AM in A & M San Antonio, Audit | Permalink | Comments (0)

March 13, 2020

Gleim On Line Audit Exam

Friday March 13, 202

Dear Texas A&M University - San Antonio Student,

I hope this email finds you well. You will use the Gleim CPA Professor-Led Assessment Quiz for FAR in your ACCT 5308 class for the FALL(18) semester as required material.

To obtain access to the Gleim CPA Professor-Led Assessment Quiz for FAR and allow your instructor to track your progress, click the link below or copy/paste the URL into a web browser. Note that you MUST use this link to order your materials because it indicates to Gleim which virtual class to enroll you in. If you order via any other means (e.g., the Gleim website), you will not receive credit for your work.

https://www.gleim.com/?promoID=PLED-TAMU-SA-FALL(18)-ACCT-5308

The link will send you to the Gleim website, where you must create your account or log into an existing account. Then, you will be taken to the shopping cart with the correct item listed at $0.00. Complete the check out process by following the on-screen instructions.

Please contact me if you have any questions regarding access to the course.

Thanks, and have a great day!

Posted at 01:10 PM in A & M San Antonio, Audit, Certified Exams | Permalink | Comments (0)