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Email Confirmation
Do-It-Yourself Dubious Accounting
by Felix Salmon
and Yves Smith
Aug 23, 2007
Aug 23, 2007
Yves Smith at Naked Capitalism reports:
Part of the hangover that followed the dot-com bubble was rampant accounting fraud, which generally required the help, or at least the acquiescence, of external auditors. That in turn did considerable damage to the industry's reputation and its partners' net worths.
So in the interest of client empowerment, and out of the recognition that the Big now Four can't afford to get any smaller, the Financial Accounting Standards Board approved new rules last September to enable corporations to engage in fraudulent, um, creative accounting all on their own ...
So in the interest of client empowerment, and out of the recognition that the Big now Four can't afford to get any smaller, the Financial Accounting Standards Board approved new rules last September to enable corporations to engage in fraudulent, um, creative accounting all on their own ...
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