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Does this reflect poorly on the auditing industry? Kind of like with the ratings firms during the GFC. It seems that their poor practices have aided and abetted
by spoonie 10y ago
Does this reflect poorly on the auditing industry? Kind of like with the ratings firms during the GFC. It seems that their poor practices have aided and abetted these frauds. Has their behaviour changed?
- pm90 10y agoThis is a good question, and I would like to know the answers as well. Although, seeing that the credit rating agencies that enabled the Great Recession are still in business...it seems unlikely that they have changed anything. The only instance I've heard of an accounting company truly blowing up is probably Arthur Anderson after the Enron scandal.
- gefh 10y agoI believe that a lot of firms had to split their accounting and consulting businesses after Enron, but this article shows the conflict of interest had quietly been there, and been abused, for decades.