Gordon Yale, CFE, CPA, CFF

Fool Me Once, Fool Me Twice

• May 1, 2001

Two collection agencies - which bought delinquent credit card and other bank debt - raised millions based upon misrepresented collection histories and the misapplication of GAAP.

Written By: Gordon Yale, CFE, CPA, CFF

• • Accounting and Auditing

Goodbye and Good Riddance: Arcane Accounting Rules Failed Us in Securitization Mess (Part 1)

• November 1, 2009

The accounting for the securitization of financial assets, particularly subprime home loans, has been defined by arcane accounting rules that helped many companies conceal mountains of debt and provided for the upfront recognition of massive and unearned future profits.

Written By: Gordon Yale, CFE, CPA, CFF

• • Accounting and Auditing

Goodbye & Good Riddance (Part 2)

• January 1, 2010

Several large financial service companies recognized bogus “gains on sale” from bloated estimates of future collections upon which those gains were based. These were portents of impending economic meltdown and fraud in the late 1990s, early 2000s.

Written By: Gordon Yale, CFE, CPA, CFF

• • Fraud Schemes