Fudging the real causes of global warming

 Corporate agenda, Environment, Neo-liberal economics  2 Responses »
Jun 042007
 

Although there is now belated recognition of global warming as a critical issue for humanity to grapple with, world leaders and the mainstream media are still fudging the real causes of global warming. One likely reason for this smokescreen is that global warming has a lot to do with the system of corporate capitalism, which encourages consumption and infinite GDP growth. Many of us are so enamoured with “The System” because it gives us a false illusion of “progress” and comfort (though many others suffer or are exploited by this same system). In this piece for the Herald, I observed that we are so locked into this system and its illusion that it prevents us from seeing that corporations and consumers are feeding off each other while seriously harming the environment. The neo-liberal economic system also prevents our leaders from taking decisive action to protect the environment and its people. [Read more]

How corporate con-artists “cook the books” and engage in fraud

 Accountability, Malaysian finance/business  1 Response »
Jun 022007
 

It is not difficult to “cook the books”, as most accountants will be aware. But what about the external auditors? They are supposed to be independent and professional, right? In theory. Far too often though, the partners of audit firms develop a cosy relationship with their clients, especially if the audit fee is substantial. In this article for Aliran Monthly, I discuss some of the common tricks used by financial con-artists and dishonest management/staff in committing fraud or engaging in “creative accounting”. This is by no means an exhaustive expose – just a sample to give you an idea how vulnerable most firms are to fraud and dishonest accounting. Devious accountants can also manipulate financial results by bringing forward or deferring the recording of expenses in the accounts. Thus, a firm’s management is able to show a higher or a lower profit figure to suit its circumstances. It may want [Read more]

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