Was That Auditor’s Opinion Really Independent?

Take a close look at some audit disasters, and you may agree with the SEC’s outgoing chairman, Arthur Levitt: Accounting work and consulting work really shouldn’t be under the same roof.

Fess-Up Time – The new round of accounting hooey

When it comes to buffing results to please Wall Street, a wildly popular move now is to stuff discounts and shipping costs below the gross profits line, says accounting analyst Jack T. Ciesielski. They belong above it. The shuffling of expenses doesn’t affect the bottom line–often negative in any event–but it does affect the ones closer to the top of the income statement, lines that … [ Read more ]