BEING TRANSPARENT AROUND BROKEN WINDOWS

By Lisa Blankman, CPA

Senior Manager, Audit & Assurance Services

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The criminological theory of "broken windows" suggests that when people see a building with shattered glass, they may be tempted to destroy it entirely. As social scientists George L. Kelling and James Q. Wilson wrote: "If the windows are not repaired, the tendency is for vandals to break a few more windows. Eventually, they may even break into the building."

So, how does this apply to you and your business? If you ignore your company's flaws — its "broken windows" — more problems will spread throughout your entire operation. Your employees will be less confident in the company, and clients will take their business elsewhere — and they may trash you on their way out. This is why honesty is the best policy when giving your business a makeover. The windows are already shattered, so you might as well acknowledge why people threw bricks at them.

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BUILDING A PERSONAL FINANCIAL STATEMENT

By Christine Wong

Audit Staff

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Since your taxes are paid and you probably still have your vital financial information handy, now is a good time to prepare a personal financial statement.

Avoiding this assessment of your personal financial condition may put you and your family at risk of financial instability, both for the short term and long term. You should analyze it and make sure your personal assets and level of liabilities are consistent with your goals and objectives. Oftentimes people don't want to prepare a statement, as they are fearful of what it might tell them. You must face reality.

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