Word: audits
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...black unit's mission eventually became the pursuit of power and influence for its own sake, but its primary purpose was to foster a global looting operation that bilked depositors of billions of dollars. Price Waterhouse, the accounting firm whose audit triggered the worldwide seizure of B.C.C.I. assets earlier this month, says the disarray is so extreme that the firm cannot even put together a coherent financial statement. But investigators believe $10 billion or more is missing, fully half of B.C.C.I.'s worldwide assets...
Just as perplexing is why the Bank of England and other authorities took so long to intervene. Britain's main financial regulator waited more than a year after seeing a Price Waterhouse audit that raised serious questions about B.C.C.I.'s viability before seizing its 25 branches in Britain. One explanation: the Bank of England was conducting extended negotiations with Abu Dhabi authorities, apparently hoping that B.C.C.I.'s current owner, Sheik Zayed bin Sultan al-Nahayan, would shore up the bank. But more suspicious experts raise questions about B.C.C.I.'s links to Western intelligence agencies. Leaders in Parliament have expressed outrage...
...same wrenching question arose. How could regulators in the U.S., Britain and other countries have allowed B.C.C.I. to develop into a monstrous criminal enterprise whose activities ranged from laundering drug money to financing clandestine arms sales? Authorities seemed content for years to ignore mounting evidence, provided by private audits and former B.C.C.I. officers, of the bank's misdeeds. According to leaked audit reports, B.C.C.I. used deposits to enrich many of its Arab investors -- and then covered up the fraudulent transactions. The bank also cultivated a global network of political contacts to help keep regulators at bay. The heavy hitters included...
...thought the savings and loan disaster couldn't get much worse, well, think again. In the gloomiest assessment of the megamess yet, U.S. Comptroller General Charles Bowsher said last week the Resolution Trust Corporation, which is handling the bailout, was in such disarray that government accountants cannot even audit its books. That means Washington has no clear idea of how much the bailout will ultimately cost as the RTC shuts more than 1,000 bankrupt S&Ls and sells off real estate and other assets...
...lucky to have escaped prison. Listen to any random conversation, on any day, and the mask of respectable elder statesman melts away to reveal a deceitful, lowbrow, vindictive character, dangerously armed with the full power of the IRS, FBI and CIA, and all too willing to use it. Audit his enemies, he orders. "We have to do it artfully so that we don't create an issue by abusing the IRS politically," says Nixon, warming to the subject. "And there are ways to do it. Goddam it, sneak in in the middle of the night...