Accountant Shenanigans: Paul Beckwith (Hospira, Inc.)

The SEC has filed a complaint against Paul Beckwith, CPA alleging unauthorized transfers and embezzlement of funds from Theradoc, a Utah based medical management systems company, where Beckwith was employed as assistant controller .  The company had been acquired by Hospira, Inc., a company listed on the NYSE, in December, 2009.  Some of the more interesting details from the SEC complaint are as follows:
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Noteworthy - Sept 19.2010: All About Tax

CRA Targets Tax Shelters:

The CRA is auditing "gifting tax shelters" ,which mainly target middle income earners.  It seems that the tax shelters have been falsifying charitable donation amounts eg. a donation of $30 will turn into a donation receipt of $100 resulting in a tax credit up to $45.   It is estimated that 170,000 taxpayers will be assessed for about $2.5 Billion.

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Accountant Shenanigans: Derma Wand

For one simple payment of $119.80 plus $14.95 S&H you can purchase the Derma Wand, a pen like device that promises to take years off your face and provide instant rejuvenation.  If one were reading their financial statements it would seem that a large number of people had bought into the hype and purchased their product.  Unfortunately, however, for Derma Wand, it was discovered recently that this was not the case.  In early August, the SEC charged Karl Redekopp, CGA and former CFO of ICTV, with fraudulently inflating sales thereby turning profits into losses. Some of the key details are as follows:
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Accountant Shenanigans: David G. Friehling (Madoff Accountant)

Bernie Madoff accountant, David G. Friehling, was finally stripped of his license after being accused of falsely representing that the financial statement for Bernie Madoff Investment Securities, LLC (BMIS) were audited in accordance with Generally Accepted Auditing Standards (GAAS) and conformed to GAAP. 

Some of the more egregious GAAP and GAAS irregularities included:

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