4 ms·

Yes but countries generally have rules that require rotating auditors and inspection of a sample of audits by a regulator.

MilStdJunkie 3y ago
A regulator who might have his eye on a swanky corner office at KPMG? That tight little ring-less executive assistant . . I say this without judgement; if there's any industry where the revolving-door policy has utterly destroyed value, it's mine. The good' ol military industrial complex. Hell we practically invented the revolving door. So anything I say here is going to be next-level hypocrite, givn where my checks come from.
- NickC25 3y ago
  You're not being hypocritical - you're simply pointing out where conflicts of interest tend to pop up, because you've probably seen such conflicts first hand in your line of work. Regulators are humans too, and it's hogwash to think that they aren't susceptible to the same corrupting forces that the rest of us are. In fact, they are probably even more susceptible to corruption - seeing that they are generally underpaid and overworked. An underhanded in-passing comment like "hey, if you help us pass this audit, we'll make sure it's worth your efforts.... by the way there is an opening at our company that could be filled by someone with your skillset. Oh yeah it also pays 4x what you're making now. Think about it."
  - MilStdJunkie 3y ago
    Fair point, and that helps with the ol' conscience. I appreciate it. But "such conflicts" . . I feel like every year the industry gives me another shock to the testicles. There's entire floors filled with nothing but former Procurement Officers (CPOs). I realized it's the only trick BD even has: find the CPO, blow a couple grand on "dinner", invent a new VP role, then Avada Contracta, get the thirty year deal. BD lost the ability to sell anything except for the prospect of double dipping officer pay and a salary - the lazy uncreative man's path towards being a millionaire. And everyone brags about it. That's the kick in the nuts. It's totally normal. You go to a conference, everyone in uniform is chatting up how much they're dishing out for Miracle Product X and how pretty Product X secretaries are. HAR HAR HAR HAR. All hands meetings, CEOs brag about it, to their own minions. People dialed in. "Welcome our new VP of Pointless Wankery, Captain Hoser from the C-17 Product X program, who just signed a thirty year . ." Even FCPA's a frickin joke now, given the sheer quantity of "Saudi Nephew NPOs" everyone keeps on the rolodex. I thought, circa 2020, that at least - at least - FCPA was solid, and now, shit. The nonprofit scene made a complete mockery of that. Sorry, thanks for listening to me vent. Pah, I say. Double Pah!

MilStdJunkie 3y ago

A regulator who might have his eye on a swanky corner office at KPMG? That tight little ring-less executive assistant . . I say this without judgement; if there's any industry where the revolving-door policy has utterly destroyed value, it's mine. The good' ol military industrial complex. Hell we practically invented the revolving door. So anything I say here is going to be next-level hypocrite, givn where my checks come from.

NickC25 3y ago
You're not being hypocritical - you're simply pointing out where conflicts of interest tend to pop up, because you've probably seen such conflicts first hand in your line of work. Regulators are humans too, and it's hogwash to think that they aren't susceptible to the same corrupting forces that the rest of us are. In fact, they are probably even more susceptible to corruption - seeing that they are generally underpaid and overworked. An underhanded in-passing comment like "hey, if you help us pass this audit, we'll make sure it's worth your efforts.... by the way there is an opening at our company that could be filled by someone with your skillset. Oh yeah it also pays 4x what you're making now. Think about it."
- MilStdJunkie 3y ago
  Fair point, and that helps with the ol' conscience. I appreciate it. But "such conflicts" . . I feel like every year the industry gives me another shock to the testicles. There's entire floors filled with nothing but former Procurement Officers (CPOs). I realized it's the only trick BD even has: find the CPO, blow a couple grand on "dinner", invent a new VP role, then Avada Contracta, get the thirty year deal. BD lost the ability to sell anything except for the prospect of double dipping officer pay and a salary - the lazy uncreative man's path towards being a millionaire. And everyone brags about it. That's the kick in the nuts. It's totally normal. You go to a conference, everyone in uniform is chatting up how much they're dishing out for Miracle Product X and how pretty Product X secretaries are. HAR HAR HAR HAR. All hands meetings, CEOs brag about it, to their own minions. People dialed in. "Welcome our new VP of Pointless Wankery, Captain Hoser from the C-17 Product X program, who just signed a thirty year . ." Even FCPA's a frickin joke now, given the sheer quantity of "Saudi Nephew NPOs" everyone keeps on the rolodex. I thought, circa 2020, that at least - at least - FCPA was solid, and now, shit. The nonprofit scene made a complete mockery of that. Sorry, thanks for listening to me vent. Pah, I say. Double Pah!