Continuing Dangers of Disinformation in Corporate Accounting Reports (.doc) [Archive.org URL]

In a hard hitting article Kane looks at the accounting profession and does not like what he finds. After laying out “an unremitting flood of accounting scams” he “traces a major part of the problem to the flawed ethics of the accounting profession” which he claims “by designing and certifying reporting options that help troubled firms and rouge managers to conceal adverse information from outside stakeholders, the highly concentrated accounting industry manages to insulate from serious sanctions the economic rents it can earn from cleverly abetting deceitful behavior.” Wow. This one is definitely worth reading and discussing. [FinanceProfessor.com Annotation]

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