> People understand those with talent are setting the steps to be performed and are the sleuths with the hound nose for fraud. Clients are paying paying for tha

> People understand those with talent are setting the steps to be performed and are the sleuths with the hound nose for fraud. Clients are paying paying for that talent and the experience. This is too generous. The talent and experience didn’t prevent 1,100 of their own people from cheating. They didn’t prevent Enron, Bernie Madoff. “The guy with hammer” eventually gets promoted to Manager or Partner and then continues to see everything as a nail. But the hammer in this case is bunch of checkboxes. It’s incredible to see in my organization that Internal Audit now has some responsibility reviewing corporate internet security. Auditors running around with CISSP certificates. The result is a bunch of checkboxes. The auditor report on financial statements is now just a required check box without meaning. The hound noses for fraud are now the active investors, which try to untangle the obfuscated financial statements. When was the last time you saw anyone use Net Income as a indicator. Everyone tries to undo the accounting adjustments and look at EBITDA.