Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (41878)	3/20/2011 12:46:08 PM
From: ValueGuy	Respond to of 79052

All good points and have to agree with all of them. I guess what I'm trying to say is that just because we expect an auditor to do his job, does not mean that he is doing his job, especially in 'basic' areas such as bank and cash or PPE. Just because someone says the market is efficient, does not mean that the market is efficient. Same thing with auditors. Most financial statements with an unqualified opinion deserves that tag (I mean, what else would we rely on right?), but once in a while you will get things missed (either by error or deliberate), especially if they are not deemed material or if the auditor has a really 'good' relationship with his client.