Watchdog groups are warning that up to 50% of the audits performed by the Big Four accounting firms are fatally flawed and are calling on Congress to step in to prevent another financial meltdown

Watchdog groups and whistleblowers are worried that poor-quality auditing of public companies could lead to another financial crisis. Research by the Project On Government Oversight indicates that the largest accounting firms are doing a sub-par job of auditing public companies and the regulatory agency that is supposed to oversee their work has largely given them a pass for their shoddy work. According to that regulatory agency — the Public Company Accounting Oversight Board — between 20% and 50% of audits it sampled shouldn’t have been relied on, because they had critical flaws. Despite the high failure rates and problems, the fines the PCAOB has levied against the Big Four accounting… Read More

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The life and assassination of Malcolm X, the controversial civil rights activist whose death remains a mystery

Malcolm X was one of the most important and controversial civil rights activists in the 20th century. Unlike other civil rights leaders who advocated for nonviolent civil disobedience, Malcolm X promoted self-defense and racial justice”by any means necessary,” and called for racial separatism between black and white Americans. In his lifetime, he helped grow the Nation of Islam, an African American religious and political movement, from a few hundred members to nearly 75,000 people, before differences with the organization’s leader forced him out. About a year later, he was assassinated. Malcolm X’s murder is being re-investigated after a six-part documentary called “Who Killed Malcolm X?” was released on Netflix in… Read More

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One of boxing’s most powerful executives says Top Rank is for sale, and 3 heavyweight companies have talked to him about buying

Top Rank, one of the most powerful combat sports businesses in the world, is for sale. That is according to the company’s founder Bob Arum, who told Business Insider inside his office at Top Rank HQ in Las Vegas, that he has held discussions with Endeavor, Liberty Global, and even DAZN. It could be the largest fight sports sale since the UFC sold for $4.025 billion in 2016. Visit Business Insider’s homepage for more stories. LAS VEGAS — One of boxing’s most powerful men, the 88-year-old promoter Bob Arum, has told Business Insider that he has had discussions about selling his historic fight firm Top Rank. Arum founded Top Rank… Read More

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Mike Bloomberg Faces Backlash For Previous Support Of Stop-And-Frisk

Watch Video Billionaire and Democratic presidential candidate Mike Bloomberg is facing some major backlash for his previous support of stop-and-frisk during his time as mayor of New York City. Stop-and-frisk gave officers the right to question and search someone they suspected of committing a crime. New York City police officers overwhelmingly targeted black and Latino young men and it’s something that Bloomberg has spent time apologizing for on the campaign trail. “There’s one approach that in all fairness I deeply regret and it’s the abuse of a police practice called stop-and-frisk and I’ve gotten a lot of grief for it lately,” said Mike Bloomberg. “But I defended it for too… Read More

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