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Audits

CALIFORNIA | LOCAL
June 21, 1989
The Los Angeles County coroner's office, already the subject of a district attorney's investigation, will undergo a management audit, the county's chief auditor said Tuesday. Chief Auditor J. Tyler McCauley declined to say whether the audit is connected to the district attorney's investigation. The district attorney is looking into allegations that employees in the coroner's office have colluded with private funeral homes to charge the federal government for the funeral expenses of indigent veterans already cremated at county expense.
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NEWS
March 17, 1992 | JANE FRITSCH, TIMES STAFF WRITER
Expressing outrage over spending by its staff, the Los Angeles County Transportation Commission on Monday ordered an immediate independent audit of the agency's financial practices and management policies. County Supervisor Mike Antonovich, chairman of the commission, called the agency's spending habits cavalier and called for a range of reforms.
CALIFORNIA | LOCAL
September 19, 1995 | JULIE MARQUIS
A Torrance psychiatrist hired to lead an outside audit of medication practices at Orangewood Children's Home has agreed to hand over her report after withholding it for more than two months, a county official said Monday. Dr. Melinda Young is expected to turn in her report by next week, county Mental Health Director Timothy Mullins said. Young had withheld the report because she feared being sued for defamation, he said.
CALIFORNIA | LOCAL
June 24, 2005 | Deborah Schoch, Times Staff Writer
City Controller Laura Chick, citing an "open disdain for good government," criticized the commissioners and staff who oversee the Port of Los Angeles on Thursday for failing to implement reforms outlined in an audit two years ago. The Board of Harbor Commissioners has neglected to adopt a formal policy for awarding shipping leases, even though the port staff drafted a policy more than a year ago, Chick said Thursday as she released a follow-up audit.
BUSINESS
March 21, 2003 | From Associated Press
The Internal Revenue Service said it audited more high-income taxpayers in 2002 and collected $32.6 billion in unpaid taxes through traditional audits and newer programs aimed at taxpayers who never file a return or underreport their income. The number of audits focusing on people who make more than $100,000 rose by more than 22% during the budget year that ended Sept. 30, reflecting an enforcement strategy focused on those most likely to evade tax collectors.
BUSINESS
November 13, 2013 | By Jim Puzzanghera
WASHINGTON - The nomination of Janet L. Yellen to be the next Federal Reserve chair gives critics of the central bank something they rarely have: leverage to force some changes. As the Senate Banking Committee prepares for a confirmation hearing Thursday, Sen. Rand Paul (R-Ky.) plans to delay a vote on Yellen's nomination by the full Senate unless Democratic leaders bring up his bill to require more expansive audits of the Fed. Although Paul is not on the Banking Committee, half of the Republicans on the panel co-sponsored his bill.
OPINION
February 15, 2002
Rep. Richard Baker's (R-La.) suggestion that auditors be retained by the stock exchanges to audit public companies and that the fees be paid out of a fund created by levies on the companies does sound "imaginative," as Ronald Brownstein calls it (Feb. 11). The protections afforded investors who rely on audits are only as good as the quality of the audits and the competency of the auditors. Baker's proposal brings to mind two comparisons, HMOs and baggage checkers at airports. In an effort to provide the "appearance" of absolute independence, Baker would have Congress turn the auditing profession into what is only a small step away from a unionized bureaucracy of the semi-competent.
CALIFORNIA | LOCAL
February 6, 1997 | SHELBY GRAD
The Board of Supervisors this week agreed to hire four employees for the county's new auditing unit and received a status report from David E. Sundstrom, the director of internal audits. The hires bring the total number of employees in the department to 17. Sundstrom said the added staffing will enable the unit to perform more audits more frequently.
BUSINESS
December 23, 1998 | LIZ PULLIAM, TIMES STAFF WRITER
In a decision that increases accounting firms' liability for the audits they conduct, an appellate court has ruled that the state insurance commissioner can sue accountants for negligent misrepresentation if they fail to reveal an insurance company's insolvency. Judges for the state Court of Appeal for the 2nd District rejected arguments by Arthur Andersen that it could be sued only by clients and a limited number of others who rely on its audits, and not by the state Department of Insurance.
BUSINESS
June 14, 1991 | From Staff and Wire Reports
The Securities and Exchange Commission said Thursday that it filed suit against Ernst & Young, one of the nation's top accounting firms, saying it helped two clients file false and misleading financial reports. The SEC accused the accountants of not acting as independently as auditors should because of certain loans, real estate partnerships and other financial arrangements between the clients and some partners in the accounting firm.
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