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Posted by taxguru on August 10, 2002

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

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