Lesson From Yesteryear

BY KENNETH S. MOST

Sixty years ago I was apprenticed to an English auditor. One day my boss asked me to be in his office just before midday, and I was told to sit on a chair away from his desk.

At noon a client, the owner of a large textile manufacturing company and my boss’s fishing buddy, arrived. My employer did not hesitate to tell his friend, “There’s something wrong with these inventory sheets.” Without argument the client accepted the proffered papers and took them away to be corrected. I was then sent back to work, having learned the lesson.

Where can an accounting student today obtain such an education? Can this type of ethical behavior be legislated?

Kenneth S. Most
Professor Emeritus
Florida International University
Lauderdale-by-the-Sea, Florida

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.