Showing posts with label CPA firms. Show all posts
Showing posts with label CPA firms. Show all posts

Monday, November 25, 2024

Should Philosophers Sell Out to Business?

Should philosophers at universities, by which I mean scholars who hold a Ph.D. in philosophy, try to be relevant?  Nietzsche wrote that no philosopher is a person of one’s own day, but Adam Smith saw in philosophers the potential as observers rather than doers to observe occupations rather than Plato’s eternal moral verities or Aristotle’s prime mover way up high. Opinions on this question can reasonably differ, but under no circumstance should someone holding a MBA and DBA or Ph.D. in business claim to be a philosopher. This is especially true in North America, where doctoral students in business have not typically even taken ethics courses in philosophy. Indeed, I turned down a doctorate in business in part because my area would have been business ethics sans any coursework in philosophy, including ethics. I attempted to take the core graduate course in ethics, but the professor, Kurt Baier, announced at the end of the first class session that only philosophy students could enroll. Baier had the countenance of Schopenhauer, and both, ironically, focused on ethics academically. To be sure, doctoral students in business who already have a Ph.D. in philosophy may be counted as philosophers, and the dual degrees fit an orientation to observing and thinking about occupations rather than just on metaphysics or ontology.


The full essay is at "Should Philosophers Sell Out to Business?"

Wednesday, August 24, 2016

Apollo Global Flew Too Close to the Sun: Personal and Institutional Conflicts of Interest


I submit that people tend to get more upset over the exploitation of personal conflicts of interest than the institutional sort. That is to say, our blood boils when we learn of another person contravening a duty in order to gain financially, yet we don’t mind when a CPA firm falsely gives a qualified opinion on an audit so the company being audited will continue with that audit firm the following year. Logically, as the money involved is more in the case of the CPA firm and individuals within the firm stand to benefit personally as the firm is enriched by the continued business, yet even so, we cannot stand direct personal enrichment resulting from a conflict of interest. In August, 2016, Apollo Global, a large private equity firm, settled with the SEC. Both personal and institutional conflicts of interest brought on the $53 million fine. Hence, this case is useful in comparing the two sorts of conflicts of interest.

The full essay is at Institutional Conflicts of Interest, available in print and as an ebook at Amazon.