Drive-By Audits

Here’s a good explanation of how the big CPA firms have been cutting corners in their auditing assignments and letting their clients get away with some seriously improper accounting. There are also some good suggestions for improving the quality of certified audits.

We’ll have to leave it to the courts to decide if this qualifies as official malpractice; but it sure sounds like it. When I was in college, there were the Big 8 CPA firms. I’m not sure how many of them will be left in a few more years after paying out for their lousy auditing.

KMK

Cutting My Own Throat

In spite of the fact that I make a very good income from helping people play the tax game, I have always supported the Libertarian Party’s platform policy of eliminating the income tax entirely, as described in this article by Harry Browne, the LP’s presidential candidate in 1996 & 2000.

KMK

Drunken Sailors

In typical fashion, our rulers, of both parties, are on a spending spree; and not just on the area that is crucial, defense.

KMK