SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : WCOM
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Oeconomicus who wrote (10965)6/27/2002 3:34:48 PM
From: BWAC  Read Replies (1) of 11568
 
I concur. And your process is exactly right. Now how do we find out if Sullivan's rationale was absurd (indicating fraud)or just misapplied (indicating poor judgment). I haven't seen enough detailed info yet to decide. Have you?

-----------------------------------------------
<Whether Sullivan is guilty of deceit (Fraud) or just very bad judgement, the process worked as it should. That's why large companies have internal auditors reporting to the board to begin with - it's all checks and balances, if you'll forgive the pun.

Regards,
Bob

PS: None of this helps us, of course, unless the banks feel as I do that their chances of repayment are better keeping the company out of bankruptcy. We'll see... eventually.

PPS: As for Andersen, I agree that there is no excuse for them not catching this. Actually, I doubt they missed it at all, but rather someone high enough at Andersen to make such a call agreed with Sullivan (however much they had to contort logic and the rules to rationalize it) and they just went along. >
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News