I think the real issue is ethics/morality. Accounting is language. A better analogy would be accountants and auditors are referees in the game of business. As firm and personal profit take precedence over public interest, you are going to see more of this. Add complexity, and you only increase the chances for trouble. All the comments be…
I think the real issue is ethics/morality. Accounting is language. A better analogy would be accountants and auditors are referees in the game of business. As firm and personal profit take precedence over public interest, you are going to see more of this. Add complexity, and you only increase the chances for trouble. All the comments below are relevent to some degree. The profession is underpaid, overworked, not respected and lacking the infusion of new talent. I am one of those is in the next five years or so is on my way out. I am appalled at what I see across the board. Things won't change until the big 4 monopoly is broken and more classes on ethics are required. The SEC/PCAOB are too lenient and allow too many loopholes. There needs to be audit only firms instead of the mix we have now. Just my nickel (accounting for inflation)...
I think the real issue is ethics/morality. Accounting is language. A better analogy would be accountants and auditors are referees in the game of business. As firm and personal profit take precedence over public interest, you are going to see more of this. Add complexity, and you only increase the chances for trouble. All the comments below are relevent to some degree. The profession is underpaid, overworked, not respected and lacking the infusion of new talent. I am one of those is in the next five years or so is on my way out. I am appalled at what I see across the board. Things won't change until the big 4 monopoly is broken and more classes on ethics are required. The SEC/PCAOB are too lenient and allow too many loopholes. There needs to be audit only firms instead of the mix we have now. Just my nickel (accounting for inflation)...