OTCPK:TOUBF - Post by User
Comment by
whoa_rimcheeseon Jun 24, 2011 5:27pm
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Post# 18763535
RE: RE: Read it and weep, dumbass
RE: RE: Read it and weep, dumbassI didn't say "clearly nothing" - I said "clearly nothing to do with finance." Learn to read hot shot. In fact, what I said implies I think the exact opposite of you being independently wealthy.
I am curious, pinecone - what line of work are you in? Clearly nothing to do with finance I imagine.
And, it wasn't a real question anyway - cause I answered it for you...right? lol.
And, no, professionals aren't making the rules with the priority of limiting liability. They make the rules to ensure the best quality audit, and those same rules are used against them if they are sued. If the auditor's didn't perform as standards dictate...well...take a look at what happened to Arthur Anderson.
I do agree, that in the minds of the public, the auditor's should be there to protect and are "lumped" with management if a fraud is uncovered - but the public, as you clearly prove, do not have a full understanding of the audit process. It isn't a force field for fraud. The public may not listen if an auditor proclaims their innonence, but a court will decide that - and life and audits will go on. And pinecone will have a thumb in his butt trying to figure out why we live in an imperfect world.
Too easy.