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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 72.34

-2.9%

Nov 4 3:59 PM EST

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To: kvkkc1 who wrote (56931)	1/30/2002 7:44:57 PM
From: RetiredNow	Read Replies (1) of 77397

Oh, I agree with you. I'm just saying you need an independent auditing body. Whenever you have an oversight body, it's usually a gov't organization, but you're correct in saying that the gov't sucks. Maybe companies can pay fees based on revenues or some other size metric and then this independent body will do that audits and certify for the SEC. Who knows? Whatever they do, it's got to be better than the job those Big 5 do now. Their audits aren't geared to detect fraud, but only to do statistical analysis based on materiality levels. Unfortunately, they often rely on the crooks to give them the evidence with which they then certify as kosher. Just plain ridiculous.

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