3 ms·
A more realistic framing would be to say that the auditors having accepted something gives a middle manager an excuse to not have to do something when you ask.
by exelius 9y ago
A more realistic framing would be to say that the auditors having accepted something gives a middle manager an excuse to not have to do something when you ask.
But here’s the thing; any company over a certain size is going to have internal compliance. Because that’s just good business; you want to know if money is walking out the back door.
Parent companies are still going to audit their subordinates; they don’t want the risk. Banks audit private companies before giving them loans. Investment bankers and private equity do the same. These auditors publish standards. So good internal controls processes will still be necessary, just for different reasons. If you want access to funding and resources, you had better be compliant.