audit failure

A Halloween costume that would make any CPA pass out from fright – an auditor performing one pension plan audit

Leave a Comment / Audits, Peer Review /
Photo courtesy of DollarPhotoClub.com
Photo courtesy of DollarPhotoClub.com

Amid the cute little kids in their funny costumes, this pleasant Halloween night there was a grown man in a suit at the door asking for candy. White shirt, red tie, gray pinstripe.

Not so scary, thought I.

“What are you dressed up as?”

“An auditor,” came the reply.

That’s not frightening, since I’ve been an auditor for a long time. But it did explain the standard issue uniform.

So, putting on my peer reviewer hat, I asked, “what audit work do you do?”

“Oh, only one pension plan….

.

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A Halloween costume that would make any CPA pass out from fright – an auditor performing one pension plan auditRead More »

A Halloween costume that would make any CPA pass out from fright – an auditor performing one pension plan audit Read More »

To what purpose did Arthur Andersen die? Part 3

2 Comments / Audits /

First post in this series discussed an editorial in the Chicago Tribune concluding that Big 5 accounting firm Andersen died in vain.

Second post provides background on the large number of audit failures that surrounded Andersen.  The editorial provides background on the poor ethical environment of the firm.

David Albrecht, in his post 10 Years Later – Did Andersen Die in Vain?, has a very different answer to the question.

There was a purpose in the demise of Andersen.  Punishment

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To what purpose did Arthur Andersen die? Part 3Read More »

To what purpose did Arthur Andersen die? Part 3 Read More »

To what purpose did Arthur Andersen die? Part 2

3 Comments / Audits, Books you might enjoy /

Previous post discussed a March 14, 2012 editorial in the Chicago Tribune which ponders what greater cause may have existed behind the 2002 collapse of Big 5 accounting firm Arthur Andersen. The editorial concluded that Andersen died in vain.

Methinks the editorial’s content argues against the editorial’s conclusion.

Let’s look at the pattern of behavior

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To what purpose did Arthur Andersen die? Part 2Read More »

To what purpose did Arthur Andersen die? Part 2 Read More »

To what purpose did Arthur Andersen die? Part 1

4 Comments / Audits /

In a March 14, 2012 editorial, the Chicago Tribune ponders what greater cause may have existed behind the 2002 collapse of Big 5 accounting firm Arthur Andersen.

Their conclusion? Andersen died in vain.

David Albrecht, in his post 10 Years Later – Did Andersen Die in Vain?, reaches a very different conclusion. More on that in part 3 of this series. If this post has already caught your interest, you’ll enjoy reading his post now.

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To what purpose did Arthur Andersen die? Part 1Read More »

To what purpose did Arthur Andersen die? Part 1 Read More »