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Please turn this comment into a blog post or whitepaper or something, because it’s excellent and deserves way more visibility than it’s going to get 4-deep in a

by numair 5y ago

Please turn this comment into a blog post or whitepaper or something, because it’s excellent and deserves way more visibility than it’s going to get 4-deep in a weekend comment thread on HN. I think we will all have to take on the task of educating a lot of kids — literally, kids — about the boring-seeming world of financial auditing. They’ll be wondering where their money went, and how to avoid such situations the next time around...

salawat 5y ago
Oh God... All the bibliography building that'd go into a white paper... Ugh. I might try spinning up a Blog one of these days when work slows down a bit. It's funny the insight you pick up having to dissect these types of things on a semi-regular basis. Financial Auditing, Risk Management, Quality Assurance, we're all doing the same schtick in different ways. Also, I'd add that one needs to keep in mind that what I posted only covers audits of singular organizations. If you're actually up to skulduggery, as I understand it, it's almost always distributing things between multiple corporate entities, audited by different groups so that no one auditor gets a complete view of what's going on. Once you start looking at groups of entities, especially jurisdictionally distributed, the complexity balloons, and you're now firmly in financial engineering and forensic accountancy territory. Financial engineering and forensic accountancy is a rabbit hole that I'm pretty sure encyclopedias could be written on, and would outdate themselves as quickly as you could propagate the info, as there is always an arms race going on between those wishing to move large amounts of money gained in less scrupulous ways, and those wishing to make those enterprises an impossibility.
- numair 5y ago
  Send me an email — numair@numair.com — I’d like to know more about what led you to do a deep-dive into these worlds, as I am sure it’s a long and interesting story!

by numair 5y ago

salawat 5y ago

Oh God... All the bibliography building that'd go into a white paper... Ugh. I might try spinning up a Blog one of these days when work slows down a bit. It's funny the insight you pick up having to dissect these types of things on a semi-regular basis. Financial Auditing, Risk Management, Quality Assurance, we're all doing the same schtick in different ways. Also, I'd add that one needs to keep in mind that what I posted only covers audits of singular organizations. If you're actually up to skulduggery, as I understand it, it's almost always distributing things between multiple corporate entities, audited by different groups so that no one auditor gets a complete view of what's going on. Once you start looking at groups of entities, especially jurisdictionally distributed, the complexity balloons, and you're now firmly in financial engineering and forensic accountancy territory. Financial engineering and forensic accountancy is a rabbit hole that I'm pretty sure encyclopedias could be written on, and would outdate themselves as quickly as you could propagate the info, as there is always an arms race going on between those wishing to move large amounts of money gained in less scrupulous ways, and those wishing to make those enterprises an impossibility.

numair 5y ago
Send me an email — numair@numair.com — I’d like to know more about what led you to do a deep-dive into these worlds, as I am sure it’s a long and interesting story!