Quote to Note: Fix the Audit
June 20, 2010
This quote is not about search or content processing. In my opinion it is one of the most remarkable statements I have read in a quite a while. Navigate to “KPMG Chief Calls for Audit Reform” on the Accountancy Age Web site. Yep, accountants: The same fine certified group of professionals who have done so much for shareholders and employees of Tyco, Enron, et al. We may as well toss in the Securities & Exchange Commission, another outfit with legions of these professionals. Now here is the quote from KPMG’s top bean counter, John Griffith hyphen Jones. The hyphen adds class to a profession already replete with upscale virtues:
“What is the point, they and others ask, of doing extensive and increasingly elaborate audits of the financial accounts of our banks, when audits failed to identify the huge and systemic risks which led to the near collapse of the Global banking system in the Autumn of 2008?” he said. “It is a straightforward question; It deserves a straightforward answer.”
Yep, straightforward. For some local color, read “Bailed-Out Banker Praises Capitalism, Attacks Parasites.” My question: Are accountants parasites?
Stephen E Arnold, June 20, 2010
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