In light of the 60 Minutes show spotlighting the Lehman Brothers collapse, I think I’ll try and compile a small database of examples where CPA audit firms have been sued for failure to uncover fraud. We’ll see how this goes. I’ve made a very modest start. The big firms love to hide behind professional guidance and disclaimers. I think it’s cowardly and I think it’s unprofessional. Well, at least the AICPA is at the forefront of protecting the innocent investor by…………well…….never mind. The AICPA is all about protecting the big CPA firms, in my opinion.
I want to recommend this site for those of you, like me, who can’t understand why bad bad bad behavior continues to be rewarded by society.He takes the accounting “profession” to task.
I only just started this small database so there are only 12 records. I think I will leave it at that. Bob Jensen is light years ahead of me. I will stand on the shoulders of a giant.
Here we go………..
bank auditing, CIA, CISA, CPA, embezzlement, Employee Theft, fraud, fraud theft embezzlement internal controls small buisiness, Internal Audit, internal controls, scam