Word: audition
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Dates: during 2000-2009
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...Scott Sullivan, recently pleaded guilty to fraud and conspiracy charges, for instance. In other cases, auditors simply lacked spine: again and again, they failed to police the books aggressively for fear of losing the client, along with consulting gigs that brought in higher profits than standard audit work...
...have turned. Strengthened and emboldened by the Sarbanes-Oxley Act, which overhauled accounting responsibilities, the bean counters have taken off their kid gloves and snapped on rubber ones. With their federally issued mandate to look for trouble, accountants no longer have to take a company's word that its audit policies are legit. The accountants have the power to challenge corporate ledgers with impunity--and they're raking in money doing so. "Auditors and audit committees are now in the catbird seat," says Harvard Business School professor Jay Lorsch. Companies no longer feel free to dump their auditors, for fear...
...provide up to $3,000 to help displaced workers find new jobs. But as Edwards likes to point out as he stumps for the Democratic nomination, that's little comfort if there are no jobs waiting in your community when you get out of school. A 2001 Labor Department audit found that only 1 in 5 who participated in programs for displaced workers found jobs for which they had been retrained; nearly 40% ended up working part time or for less than they had earned before; 28% had not yet found any work at the end of their training...
...partly out of fear and mostly out of pride, the teachers and students haltingly remodeled their school for the era of testing. Franklin came under a sort of efficiency audit more common to FORTUNE 500 companies. Reading in particular became a science. Teachers read much more nonfiction to kids, since that is a major focus of the test. Students began using computerized reading programs that administered regular quizzes. Just before February testing, kids on the borderline were pulled aside for daily test-taking strategy sessions. All children were assigned adult mentors, drawing on everyone from the principal to a custodian...
...things. Meelia says that before Breen's arrival he had little contact with Tyco's corporate management, which didn't review the strategic plans Meelia submitted and for some reason lumped health care with plastics and adhesives into one division. At other units, the troubles went deeper. An internal audit of the company's accounting problems found some of the worst at Tyco Fire & Security, best known for its ADT home security alarm subsidiary. By manipulating the way payments for its accounts with local dealers of security systems were recorded, Tyco executives allegedly overpaid for accounts, shifted the money around...