4 ms·
The CEO in the linked piece didn't need to get down into the weeds of the accounting laws, he just needs to know to get a second (outside/unbiased) opinion on a
by ZachPruckowski 13y ago
The CEO in the linked piece didn't need to get down into the weeds of the accounting laws, he just needs to know to get a second (outside/unbiased) opinion on anything that smells even faintly and remotely fishy that he's signing off on, and he needs to keep a general eye on principal/agent problems or conflicts of interest in the people he manages.
- derekp7 13y agoAnd he needs to know that the outside opinion is actually the same opinion that would be shared by a potential prosecutor / judge / jury. And he needs to have enough intuition to know that something smells fishy. And that it is a bad fishy smell, not a good fishy smell.
- einhverfr 13y agoA lot of this comes down to two things: 1. Having a good grounding in accounting basics, and 2. Having enough accounting knowledge beyond the basics to have a discussion with accountants and lawyers regarding best accounting practices.