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Technology Stocks : LEGATO SYSTEMS LGTO

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To: Zoro who wrote (873)	3/21/2000 10:33:00 AM
From: Hungry Investor	of 1138

Zoro, <<I don't understand how the big accounting firms could audit and approve the financials of these software companies for several years and not be very pro-active in explaining the reason for the change in reporting and restatement of past revenues. >> The financials are the responsibility of the Company, not its auditors. Therefore, it is the Company's responsibility to discuss reasons for changes. I have never seen an accounting firm explain the changes in their client's financials, except to the extent a 8K is filed in connection with either their resignation or their termination by the Company. These rules have been long in coming....they are just now catching up with increasingly aggressive accounting practices that have been evolving over the past few years. My 2 cents. Scott.

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