Chapter 1567

In this way, at least 10 billion cakes a year, the other four should take off, especially KPMG. The second one committed suicide. In this way, your position will be more stable.

If you think too much, the stock prices of the other four not only did not rise, but also showed some signs of collapse.

Nima, it's just auditing. To put it bluntly, this is a service industry, OK. Honesty is the most important trait.

"How come it broke up so quickly without struggling?

By the way, what about Joseph belladino, isn't something wrong with the old man? "

"Boss, his situation is different. In fact, I just found out that some of Andersen's law firms are like law firms. Although their total number may be close to 100000, the so-called core personnel are very few."

"Lying trough, can you still play like this? If you want me to say, it's not very different from Amway!

Eh, if you need some excellent personnel. "

"Yes, boss, you can do it now. I guess the other companies may have already done it. It's just a brand change. Who cares what company to use?"

As far as he knows, Harvey Pitt was dismissed because of the improper handling of this matter. However, in William White's opinion, this handling is actually quite good.

It's just a pity that if you think about the so-called punishment,

it's no wonder that little Bu Shu didn't say anything about the arrangement of population. It seems that some experts are giving him advice.

But ah, do they tell you that Enron is just a small idea, you have survived 911, what is this little disturbance!

In other words, Eagle sauce is very sad. After 9 / 11, the stock prices of the United States have been hovering. I dare not say that they all have investment value. At least, there is not much risk.

So, a lot of bottom hunters are tragic again. It's ok if you don't use leverage. If you use this Dongdong, you'll end up bursting.

William White doesn't really care if anyone goes bankrupt or explodes. What he cares about is that the atmosphere on Wall Street suddenly becomes very weird.

"Punishment? It's like a joke. " Paul Volcker is very angry. He told Harvey Pitt about the result early on.

Do you think those guys will be punished?

You are too young and naive, see? It's just shareholders and investors who are unlucky.

Asshole, it's no use at all. He made a very bad start.

"This is not the worst. Nearly 100000 people are unemployed at one time, which is a miracle. But I heard that many big men said that Harvey Pitt is not suitable to stay in that position.

Overcorrected paranoia, in short, what bad to say.

If you want to say that this guy is sad enough, how can he meet such an embarrassing situation? "

"Oh, is it overcorrected? Believe me, Alan, they're brewing a bigger tragedy. " As an old fox, Paul Volcker soon understood the truth. The reason why Andersen went bankrupt was that the SFC did not allow him to continue his contract with commercial users.

Well, if at another time, he will worship.

But now? Just two idiots!

Fortune magazine named the most innovative company in the United States fell, all the praise words, now sounds more like a joke.

In more than a month, Enron's share price fell from nearly $40 to $4 in free fall.

What about Andersen?

Enron has been auditing since it was founded in 1985. Half of Enron's directors have direct or indirect contact with Andersen. Even the chief accountant and chief financial officer are from Andersen. Half a month after the Enron case broke out, Andersen destroyed thousands of pages of Enron documents.

In fact, it is necessary to impose severe punishment and laws. However, for Enron, it may be sad, but Andersen may not. The company is closed down, the shareholders are on the street, but what about the originators. It seems that wood has too much punishment, right?

"Ellen, they are brewing a new tragedy. In order to get more benefits, no one cares about breaking any law. If the son's law is just losing his job, it doesn't matter."

Greenspan agreed with Paul Volcker's concerns, but so what? Do you have any plans. Or do you have the guts to uncover this scar?

Let's put it this way. The securities and Exchange Commission has investigated and dealt with more than one case of employees or their partners participating in shares or working in a company audited by PwC. In January this year, KPMG was criticized by the CSRC for its investment in a fund audited by PwC.

What about Andersen? It is considered to be the most enterprising in mixed operation. Nearly 60% of its partners come from non audit businesses such as taxation, business consulting and corporate financial operations.

In the continuous expansion of accounting firms, audit fraud has become a common problem. In the past few years, hundreds of large companies in China have been involved in the distortion and correction of earnings report data, and there are related accounting firms behind each one. In this sense, the credit crisis of Andersen is not its own.The supervision of one accounting firm is done by other accounting firms. That is to say, the whole accounting industry is a self-discipline and mutual supervision industry. Traditionally, accounting industry is the watchdog of investors, responsible for supervising the financial behavior of enterprises; accounting industry has won the trust of society and investors for its independence and fairness. This is feasible under the condition that the industry monopoly is not too strong.

However, with the formation of the "Big Five" and its huge business, the accounting industry in China has formed a highly monopolized industry. Although there are fierce competitions among them, such as fierce competition in customer sources, sites and talents, in order to win in these aspects, they can restrain each other. However, it is undeniable that they also have the consistency of interests, such as in the mixed operation side In terms of the relevant legislation of the industry,

at this time, there will be "five big" conspiracy to form a united front to jointly oppose the legislation or policies unfavorable to them. When the economy is booming, the problems arising from the mixture of accounting and auditing are not easy to find, because the stock market is just going to rise, everyone is happy, everyone has money to make money, and when the economy is in recession, the bubble will emerge. At this time, the credit crisis appeared, people found that the original accounting firm had "used its reputation as a gamble". Of course, this kind of dishonesty is not only the problem of one accounting firm, but also the problem of the whole accounting industry; it is also the problem of social credit; it is only one accounting firm that pays for the loss of credit, but also the whole industry, even the whole society. Because in this case, people can't help asking, "even Andersen has no credit. Who can I trust?"

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