To: i-node who wrote (56936 ) 1/31/2002 1:27:54 AM From: JeffT Read Replies (2) | Respond to I understand where you are coming from on this, however I disagree. First, the service is being paid for by the company and if they pay then they should be able to look the CPA's in the eye when they are hired and also when the audit fee check is delivered at the end of the audit. To replace the company audit committee with someone else outside the company would just open up other problems. For example, someone on this "independant" group or committee with an axe to grind against the particular company being audited might use this as an opportunity to get even. Plus, taking the decision of who the auditors are out of the hands of the audit committee of the company that will pay for the services is unreasonable. We can and should expect a lot, but that is just too much. We must remember that all parties, even the "independant" one's you want to bring in, are all subject to the same lapses of integrity that are found everywhere. No system is perfect and can always be improved. I just feel we should be careful to not go over board here. We might very well make matters worse.
