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Strategies & Market Trends : John Pitera's Market Laboratory
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To: hugh thorne who wrote (5435)1/14/2002 2:39:54 PM
From: Yorikke   of 33421
 
And the fact that individuals in each 'enterprise' were well aware of what the other 'enterprise' was doing and could be said to have confidential information about the other's activities is of no legal importance. Neither is the fact that one will likely find that many major shareholders in the public enterprise are employees and partners of the private. Nobody in business would relate the two functions of Management Consulting and Audit as these were two separate firms. Just because last year employee A was an Auditor and now he appears representing another firm as a Management Consultant is simply coincidence.

Management Consulting by Audit firms has long been a major point used in questioning Audit independence. True independence would demand that Audit firms not provide Audits for firms where there is even an appearance of secondary interest. The accounting profession has proved that it will bend to greed. Its 'self' regulation is a farce. The dire predictions of the professions seers over the past 20 years will now come to pass.

Throw em in the clink, right on down to the out of college boyos that did the grunt work. Let the nobbykneed bug eyed partners in all the firms know that 'cheating' is 'cheating' no matter what you get your lawyer to call it. Put the profession in a strait jacket of regulation and witch hunt the ranks for a decade or so. Who better to tar and feather than bean counters, unless of course we go after the lawyers who built this tower of babel.
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