I've seen some similar types of accounting findings in my dark past. Those are
foghorns to anyone in the securities and corporate accounting world albeit
they're not a flashing neon sign to the average Joe. Should have gotten the
attention of investment analysts who would also know they're red flags about
financial irregularities. An accounting firm stating much more than that -
provided they've not knowingly aided a coverup materially and done all
reporting that's legally required - would not bode well for future business
from any company requiring an audit. Understand that the company being audited
hires the auditors and no firm wants its dirty laundry publicly aired out. It's
up to the audited company to 'fess up to all the details of any irregularities
found in the audit.
Sent from my iPhone
On Nov 9, 2011, at 10:04 AM, Ken Norton <ken@xxxxxxxxxxx> wrote:
>> OK, I'll admit, those aren't whistles - they are more like bl**dy
> Well, yes and no. They didn't give enough specifics for anybody to run with
> unless they already suspected something rather amiss.
> I've learned a bit more about Woodford's actions over the past six months.
> That guy is my corporate hero. Finally, somebody with giblets big enough to
> take on several really deeply entrenched, but worthless individuals. His
> "mistake" was finally taking on senior board members. Not so cool for his
> own job security.
> Love the MarketWatch headline: "Even Japanese scandals now carry Greek name"
> Honestly, it would not surprise me if it is finally revealed that certain
> individuals are on Canon's payroll as I've been claiming for years.
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