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Strategies & Market Trends : ahhaha's ahs
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To: Ahda who wrote (4016)3/2/2002 12:13:57 PM
From: Ahda of 24758
 
Friday March 1, 3:20 pm Eastern Time
Merck Severs Auditing Ties to Andersen, Appoints PricewaterhouseCoopers

WHITEHOUSE STATION, N.J. -- Pharmaceutical giant Merck & Co . has dropped Arthur Andersen LLP as its outside auditor, replacing the firm with PricewaterhouseCoopers.

I dont know the reason for this Merck does. What i do know is that the SEC approved Andersons accounting format. Debt is a wonderful tool until one has to write a check and conflict arises when the balance is too depleted and entries on the plus side are too few in terms of true dollars. The fictional future at this point becomes todays fact.

There have been numerous narratives about the non ability of the qualified to read SEC Statements. There are now numerous partners in Anderson who are concerned if they will have any cash flow after this. In order to prevent this type of thing from happening it is not at all complicated in the laws there has to be the word no you cannot stretch the law. It is far to easy to create a dot com bubble just to modification of sound principles. Numerous fund managers were the last to enter into the dot coms. Their approach at that time was more conservative,
so must be our approach in accounting and banking. Enron is one minor company in system that has forgotten what the word long term investment means.

Anderson is not the only too creative accounting firm in my opinion. Just ask penny stock players about the perils attached to creative accounting.
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