Home
>
Political
>
Accounting Nightmare at the FTC

Accounting Nightmare at the FTC

Most government agencies cannot pass an audit of their expenses. I can vouch for that and have been a long-time advocate; that the government follow the same rules they force on business. Walk the Walk; In 1990 Bush Sr. signed The Chief Financial Officer's Act. The Act called for 14 cabinet level departments and 10 major agencies to appoint CFOs and try to emulate business and accounting standards used in publicly held corporations. The act and other financial reform legislation that followed, required that 24 agencies produce auditable Financial Statements. Guess what?

In 2000 ten years after the act was the first year that all 24 agencies filed their statements on time. In 2002 there were 13 programs of 6 agencies with discrepancies of 20.7 Billion dollars. Those heads of those agencies should be prosecuted along with Arthur Anderson, the Shredders and any Enron people who are found guilty. The Justice Department has been unaudited or did not receive a clean opinion on their financial statements from 1996-2001. Don't you think they should get their own house in order before attacking business? I think so.

These agencies waste money and haphazardly go about their business. Many feel they are crooks; read CFO Magazine March 2002 issue article entitled "FEDERAL OFFENSES." We are not making this up, this is unfortunate, but accurate stuff. Let's take the FTC for instance which amongst other things requires all franchise companies to have audited financial statements to prove their worthiness to consumers, yet their own agency cannot produce proof that they have their books in order. How dare such agencies wave their mighty flag at American Business who has built this great nations. How dare they condemn the only group who can bring us out of recession and maintain us after we emerge, how dare they hide behind their piles of BS and budget woes swept under the Justice Department logo'ed carpet and stacks of bogus paperwork.

Is this the best the Federal Trade Commission can do? Is this the best they can offer as they label business people fraudsters and crooks? Is this the best they can do as they file lawsuits against the entrepreneurs of America? Well quite frankly this is just not good enough. Time to downsize; think about it?

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.worldthinktank.net/wttbbs

car service from Midway Burlington .. Lockport Chicago limo O’Hare

In The News:

Tech expert Kurt “CyberGuy" Knutsson says a malware app called SpyLend is posing as a financial tool, hitting 100,000-plus downloads.

Tech expert Kurt “CyberGuy" Knutsson says Clone Robotics’ Protoclone mimics humans with 1,000 muscles – too human for comfort.

Tech expert Kurt “CyberGuy" Knutsson urges you to use Apple’s App Privacy Report to see what your apps are really up to.

Tech expert Kurt “CyberGuy" Knutsson talks about how to smoothly transfer your data from an old laptop to a new one using cloud storage or external drives.

Kurt the CyberGuy offers tips to safeguard your personal information as scammers become more sophisticated with scam texts and other methods.

WeRide's unmanned electric delivery van, the Robovan W5, has 194 cubic feet of cargo space and can carry payloads up to about 2,205 pounds

Kurt the CyberGuy recommends deleting 16 browser extensions immediately in response to a report saying more than 3.2 million web users were affected by a security breach.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

A robotics firm in China claims a robot has performed the world's first humanoid robot front flip, which is significantly more difficult than a backflip.

A digital ID may be even more secure than a physical ID. Storing your driver's license in your Apple Wallet is an ideal solution for commuters.

A cybersecurity firm has shed some light on just how common tax scams have become. Kurt the CyberGuy offers his advice for how to protect your refund.

Lifesize Plans offers immersive walk-throughs that allow customers the opportunity to tour a home's design before construction actually begins.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

A man invested $4 million in bitcoin and lost it all with a single click when he was targeted by a vishing scam, which uses phone calls to trick people.

Expandable's Touchdown is a designer trailer that promises a luxury off-grid living experience and unfolds into a home in about 15 minutes.

Major employee screening company data breach affects 3.3 million people. Tech expert Kurt “CyberGuy" Knutsson explains what happened and gives five ways to protect your data.

Kurt “CyberGuy" Knutsson reveals mind-blowing tech that gives you sunlight on demand.

New malware "FrigidStealer" targets Mac computers. Tech expert Kurt “CyberGuy" Knutsson offers four ways to stay safe from infostealer malware.

Kurt “CyberGuy" Knutsson talks about how lab-grown muscles power a biohybrid hand for scalable prosthetics and research.

Reports of task scams have significantly risen in the past four years, according to the Federal Trade Commission. Kurt the CyberGuy offers some red flags.

iPhones have a hidden folder that eats up storage without you knowing it. Kurt the CyberGuy offers some tricks to free up storage on your device.

A recent ransomeware attack targeted Zacks, an American investment firm, and a cybercriminal claimed to have stolen records for millions of customers.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Researchers unveiled a new soft prosthetic hand that combines the natural coordination patterns of our fingers with the decoding of motoneuron activity in the spinal column.

Accidentally deleting a text message on your iPhone or iPad is not a problem if you still need the message. Apple has a built-in way to recover it.

Accounting Nightmare at the FTC

Political