« Mandatory Auditor Rotation -- The Financial Times Stumbles Onto the Carousel | Main | The PCAOB Wants to Name Audit Engagement Partners: Would Its "Red A" Really Matter? »

September 22, 2011

Comments

E. Taylor

I am reminded of a speech given by Sherron Watkins of Enron fame. She asked the question, "what is the point of an audit, if not to detect fraud?"

Stakeholders learn nothing from the binary report - since it is always a "yes" and it is always a "yes" because pressures exist to make certain that it is -

Laurence Gerowitz

Your exemplary use of UBS to highlight the futility of the compliance model is accurate and courageous.

Risk managers grimly sample their idealized and fatally limited data each day; while algorithmic models pulse with self-obliterating screech and feedback safely above the danger zone. Compliance models are simply not conceptualized to confront and confine affirmative fraud.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)

Categories

Never miss a post
Please enter all required fields
Correct invalid entries

Follow Me

  • © 2007-2024 James R Peterson Special thanks: Francine McKenna. Always with love: Kat and Julie. In memory: Bob White, Stuart Kadison