Tuesday, June 13, 2006
Avoiding another Enron
Guilty verdicts against two former Enron chiefs last month closed the books on the biggest case of corporate chicanery in recent history. But the fallout from that era of excess continues to blanket U.S. companies.
Are auditors more responsible, or are they just worried about liability?
I would guess they're more concerned with liability, survival, reputation. They're a lot tougher on clients and their clients' accounting. I know of several instances where they've decided that previous accounting was wrong and they are making their clients restate financial statements for things they have become more conservative about.
posted by Brian Moran @ 8:51 AM