Word: auditive
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...banking commission immediately launched an investigation. Instead of praising UBS for its honesty and forthrightness, it chided the bank for inadequate diligence and ordered an audit to ensure that internal procedures were up to scratch. According to the banking commission's report, published in July, two searches carried out by UBS between 1999 and 2001 failed to detect the Abacha connection because the bank didn?t have all the names and aliases of the dictator's entourage. A third search failed because the bank was updating its record keeping from paper to an electronic system...
...There's More WorldCom, already the biggest U.S. corporate scandal in history, said an internal audit has found a further $3.3 billion of improperly reported earnings, taking the total to more than $7 billion...
Bush came right out of this--the sweetheart loans, dumping the Harken stock before it tanked even though he was on the audit committee. Maybe he can stand up and say it takes one to know one, but he's not going to do that...
Then there is Portugal. The center-right government of Prime Minister José Manuel Durào Barroso, which took office in March, said a new audit determined that instead of a 2001 budget deficit equivalent to 2.6% of gdp, the shortfall came in at a whopping 4.1%. Stability and Growth Pact rules hold that any euro-zone country with a deficit above 3% of gdp could face big financial penalties. Obviously, the idea that the E.U.'s poorest country could be fined - on top of huge spending cutbacks the government must make - has not gone down well among Portugal...
This attitude sets boomers apart from their parents, who have traditionally been content to travel, golf and play a lot of pinochle. The emerging retirement ideal is far more active. The University of Miami Institute for Retired Professionals arranges for anyone over 50 to audit regular university courses or take five-week summer sessions, with such classes as creative writing, literature, drawing, computers and a newly added course on Middle East politics and Islam. "A lot of folks are here every day," the institute's director, Noreen Frye, says of the over-50 set. "Others are active with their church...