Zeta Phi Beta Sorority IHQ Under Fire

[ladygreek]

Originally posted by Honeykiss1974
Zeta Phi Beta runs a program nationally called "The Storks Nest" in conjunction/partnership with the March of Dimes.

http://www.zphib1920.org/signature_p...torksnest.html

It sounds like a wonderful program. Too bad it will be the service recipients who will really lose if the MoD cuts funding permanently.

[Rain Man]

Originally posted by moe.ron
Just wondering, shouldn't be there a yearly audit done by an independent firm?

In this case, unless the auditor was really saavy in the area of forensic (fraud) accounting or there was something really unusual on the books which jumped out at him/her, whether or not an audit was done would largely be irrelevant. Here's why:

Contrary to popular belief, audits ARE NOT specifically designed to detect fraud and other acts of defalcation. Audits are intended to determine whether the financial statements presented were done with reasonable assurance that they were presented in accordance with GAAP (Generally Accepted Accounting Principles).

Audits work with figures that are ON the books, not figures that are or could possibly be OFF the books. So if the leadership was siphoning off funds for personal use which never hits the books, it would be unlikely that the auditors would catch it, because it goes outside the scope of their duties to do so. If fraud is detected, they are obligated to report it to management, but the operative word is IF.

Under these circumstances, a special forensic audit would need to be done to determine the scope and extent of fraud that was occuring in the organization. This audit would employ special tools and techniques that a regular financial statement audit would be much less likely to detect.

*man I wish this was a CPA exam question, cause I would've nailed it to the wall without breaking a sweat.*

[kddani]

Update:
http://www.wjla.com/news/stories/0206/301191.html

[divainred]

Originally Posted by kddani

Update:
http://www.wjla.com/news/stories/0206/301191.html

The links that I believe kddani were trying to send are these:

http://dynamic.allbrittontv.com/watc...s=wjla&id=1488

and

http://www.wjla.com/news/stories/0307/404285.html

I commend the member who spoke out. While, I do think we all want to clean house privately, I think it takes a lot of courage to speak out when something wrong is occurring and I don't think it is an easy decision. Also, to see the support she had from her sorors, especially in her absence, had to be somewhat rewarding.

[Wolfman]

Originally Posted by divainred

The links that I believe kddani were trying to send are these:

http://dynamic.allbrittontv.com/watc...s=wjla&id=1488

and

http://www.wjla.com/news/stories/0307/404285.html

I commend the member who spoke out. While, I do think we all want to clean house privately, I think it takes a lot of courage to speak out when something wrong is occurring and I don't think it is an easy decision. Also, to see the support she had from her sorors, especially in her absence, had to be somewhat rewarding.

I saw this report on another list serv; I was extremely angered by the behavior of the Zeta leadership. Unless there's something that we don't understand that needs to be brought out to clarify this situation, it appears that the Zeta leadership is totally corrupt and are holding their membership hostage to their unconscionable dealings. To accuse a honest soror of disloyalty who is trying to expose criminal activity by leaders is beyond belief; it only shows the depths to which these people have sunk.

The attitude of secrecy is one thing that empowers crooks; embarrassing as it may be,the only things that will rectify this situation is for the feds to do their job and free ZPHIB from these perpetrators. It hurts me b/c I love Sheryl Underwood but this situation is beyong the pale. ZPHIB deserves better than this!

[Senusret I]

Originally Posted by Wolfman

I saw this report on another list serv; I was extremely angered by the behavior of the Zeta leadership. Unless there's something that we don't understand that needs to be brought out to clarify this situation, it appears that the Zeta leadership is totally corrupt and are holding their membership hostage to their unconscionable dealings. To accuse a honest soror of disloyalty who is trying to expose criminal activity by leaders is beyond belief; it only shows the depths to which these people have sunk.

The attitude of secrecy is one thing that empowers crooks; embarrassing as it may be,the only things that will rectify this situation is for the feds to do their job and free ZPHIB from these perpetrators. It hurts me b/c I love Cheryl Underwood but this situation is beyong the pale. ZPHIB deserves better than this!

I totally agree with this whole statement, except the part about loving Sheryl Underwood.

I think it's a MESS that they EXPELLED the woman who blew the whistle on the corruption!!!!

I saw the news report, and several Zetas that I am acquainted with attempted to attend some sort of hearing/meeting at the National HQ, but they were turned away. They gave support for the expelled soror.

(Sidenote: The DST and Zeta HQs are all of a block away from each other in a ritzy section of DC. )

[DST4A00]

Originally Posted by Senusret I

(Sidenote: The DST and Zeta HQs are all of a block away from each other in a ritzy section of DC. )

But of course!

[MysticCat]

What a mess. Sorry the sisters of Zeta Phi Beta are having to deal with this.

I have to say, though, that I couldn't stop laughing while reading the WJLA (Justice League of America?!) report. Not because of the subject of the story, but all of the references to "The I-Team." I'm sorry, but that's just so lame. I pity the fool who thought that one up.

[ladygreek]

Originally posted by kddani
Update:
http://www.wjla.com/news/stories/0206/301191.html

The link takes me to the same update you posted before.

[ladygreek]

Originally posted by MysticCat81
What a mess. Sorry the sisters of Zeta Phi Beta are having to deal with this.

I have to say, though, that I couldn't stop laughing while reading the WJLA (Justice League of America?!) report. Not because of the subject of the story, but all of the references to "The I-Team." I'm sorry, but that's just so lame. I pity the fool who thought that one up.

None of your local news stations have an I-Team? It isn't something new.

[OleMissGlitter]

I wonder if they will issue a statement on their website?

[MysticCat]

Originally posted by ladygreek
None of your local news stations have an I-Team? It isn't something new.

No, they don't so far as I know. I'd never heard of it until this report.

Of course, I have to admit that I rarely watch local TV "news," which is more geared to entertainment and sound bites than actual news. Silly mess like "The I-Team" makes hard for me to take local TV news seriously.

[alum]

In Washington, our local news IS the national news. Snipers, hijacked planes, evacuating the Capitol....

Of all the local news broadcasts, the ABC affiliate is my favorite.

[KSigkid]

Originally posted by MysticCat81
No, they don't so far as I know. I'd never heard of it until this report.

Of course, I have to admit that I rarely watch local TV "news," which is more geared to entertainment and sound bites than actual news. Silly mess like "The I-Team" makes hard for me to take local TV news seriously.

They are all pretty comical; the ones here are way too over-dramatic, and it's like watching a bad TV show.

[MysticCat]

Originally posted by KSigkid
They are all pretty comical; the ones here are way too over-dramatic, and it's like watching a bad TV show.

Usually because it is a bad TV show.