ACRT about to move to new highs Message Board

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Microcap & Penny Stocks : ACRT about to move to new highs

ACRT 0.110

-7.6%

Dec 30 4:00 PM EST

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To: Goulds who wrote (3552)	3/17/1998 11:06:00 AM
From: Randall Rosen	Read Replies (1) of 7054

To clear the record: The fact that a "big six" firm is used or not isn't the issue. An audit is NOT designed to detect fraud or management misrepresentation. It is meant to express an opinion on financial statements that are the responsibility of management. So, a "big six" could miss something while the small, local firm could catch huge fraud. The size of the firm does not matter. Being the biggest in the world wouldn't necessarily help. Without knowing what's going at at AHG, it is not necessarily E&Y's fault if something was missed. And, to the point, it is not necessary that ACRT use a "big six" firm to ensure sound GAAP accounting practices.

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