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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (34232)	11/23/1998 6:39:00 PM
From: Enigma	Read Replies (1) \| Respond to of 94695

Tippet "Also, it's fair to say that detecting fraud is not the objective of auditors" I'm not sure about that - there are a lot of frauds, but some which would be pretty embarrasing if the auditors didn't find them - but it is hard - eg Bre-X - a lot of people were fooled by that one and nobody pointed to the auditors. But I've been to some very tense audit committee meetings where the auditors have been very hard nosed and have stuck to their guns - much of this relates to such things as write downs. Before we blast auditors further out of the water we should remember that they have serious liability exposure, much the same way as outside directors do. E