“As an auditor, if I start to look at recurring transactions and I ask the question, ‘What’s the economic purpose for this transaction?’ and I don’t get the right answer, I keep asking that question.”
Before Barings Bank went belly-up, John Hague, recently retired from RSM, recalls giving a presentation to back office personnel. Some Barings people were there – apparently they didn’t pay attention to Hague’s talk.
In this video from MarketsWiki Education’s Chicago event, Hague reviews some well known frauds, the characteristics they share and some of the best market movies to watch.
Produced by Mike Forrester and Patrick Lothian