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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: KeepItSimple who wrote (182246)7/23/2002 12:48:42 AM
From: Nadine Carroll  Read Replies (1) of 436258
 
In cases of real outright fraud by corporate management, auditors have usually been able to defend themselves by saying detecting fraud is not in their mission statement. If they are presented books in good order and according to GAAP, and the systems seem to be in order, that's all they're supposed to check for.

Of course, that line of defense worked in normal business climates. I don't know how it will fly today.
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