July 23, 2013 |
The University of Northern Virginia, a small school that operated out of the ground floor of an office building in Annandale, has been ordered to close after 15 years of operation after failing four recent audits by the State Council of Higher Education for Virginia. State auditors found that it had no accreditation for the past five years and cited it for its failure to hire qualified faculty or offer appropriate curriculum content. The school, not widely known to many who thought they knew Northern...
April 11, 2013 |
NEW YORK — As investors Carl Icahn and William Ackman bickered loudly on TV this year about their opposing bets on Herbalife, two other men were discussing the company in a different context: obtaining non-public information to trade ahead of the stock's next move. Referring to Icahn's announcement that he had purchased a large stake in the nutritional-products company, one of the men said: "I wish you would've known that he was going to release that, and we could've made some money.
April 9, 2013 |
NEW YORK — The accounting firm KPMG has resigned as the auditor for nutrition company Herbalife and shoe retailer Skechers after a rogue partner allegedly leaked information about the companies to someone who used it to trade stocks. KPMG said it fired the partner and has no reason to believe that there were any problems with the financial reports for Herbalife or Skechers. Skechers said KPMG told it that the ex-partner provided the inside information in exchange for money and is under federal investigation.
April 5, 2013 |
The former top auditor for the Prince William County government has been accused of stealing more than $30,000. The victim? A D.C.-based association of auditors. Robin Howard — who once headed the Prince William office intended to ferret out financial mismanagement — was indicted this week on six counts of embezzlement. A judge issued a warrant for his arrest. Larry Keller, a former colleague, said that Howard had done "a lot of good" for Prince William and that he...
February 11, 2013
The problem described in your Feb. 7 front-page article " 5 colleges' inflated data spark debate on rankings " is not new. It has surfaced many times over the past 20 years, and it will not go away until colleges and universities are required to submit to independent auditors the data they wish to provide to ranking agencies or publish on their Web sites. Texas Christian University is to be commended for doing so without being required. I was a college president for 12 years, and I know the intense pressure from...
January 29, 2013 |
The military does not always do enough to respond to victims of sexual assault, according to a report released Tuesday, a week after Defense Secretary Leon E. Panetta announced that he was lifting the official ban on women in combat. The report by the U.S. Government Accountability Office found that doctors, nurses and other military health-care providers are inconsistent in how they handle reports of sexual assault, mostly because guidance is lacking. Required refresher training for...