Our editor is off today, so talk amongst yourselves about very bad auditing, creepy tracking devices or post a question in Open Items. Don't forget to follow Going Concern on Twitter, Facebook and Pinterest, too!
Kraft Heinz, Phillips 66 Targeted by Fake Securities Filings [WSJ]
Ex-Madoff Accountant Disbarred For Fraud Conviction [Law360]
Volkswagen to Name Porsche’s Matthias Müller as New CEO [WSJ]
The Potential Criminal Consequences for Volkswagen [DealBook]
Estate of ex-Pistons owner Bill Davidson sues Deloitte for $500 million [Crain's]
How to See This Weekend’s ‘Super Blood Moon’ [Discover]
If money is still on your mind, all of our comp threads are still open for discussion. [GC]
PwC Can’t Dump Fraud Claims In LA’s Massive Billing Suit [Law360]
Seattle IRS agent charged with bribing pot-shop owner [ST via Joe Kristan]
Individuals being audited potentially learn how to exploit the weaknesses inherent in any audit methodology if they face the same method many times. Hence, an auditor better deters fraud by randomizing her choice of methodology over time, thereby frustrating a would-be fraudster’s ability to learn. In the extreme, an auditor benefits from refusing to audit even though audits are costless to her. [SSRN via Matt Levine]
Professional stone skipper makes it all the way across lake [UPI]
Image: Screenshot/YouTube
