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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (140765)	12/5/2001 2:37:01 AM
From: TGPTNDR	Read Replies (1) \| Respond to of 1580610

David, Re: <The big CPA firms have literally been in control of the standards setting process for years. If they needed new FASBs to deal with the Enrons of the world, they were certainly in a position to get the professional standards drafted.> Yes, I completely agree. My message 140762 was a tongue in cheek poke at AA for having the balls to say they needed new rules, a totaly stupid/outrageous statement, IMO. In many cases the outside accounting firm is being looked at as an adjunct to management and the internal accounting department. And it's not just the accounting profession that's screwed its reputation. As the legal community did before it, the business management types are busy fouling their nest for cash. It's been a long time since Boesky and Milliken, and some would say they were scapegoats or even good guys, but a little jail time once in a while does a profession good. There may well be jail time coming out of this (Enron) debacle. It would be nice if it was commensurate with the pain caused and started at the tops of organizations rather than at the bottoms. tgptndr