BoatBanter.com - View Single Post

HarryisPaul

In article , says...

On 3/1/2011 9:41 AM, Harryk wrote:
On 3/1/11 9:04 AM, Wayne.B wrote:
On Tue, 01 Mar 2011 08:28:08 -0500,
wrote:

Surely you are not trying to let the so-called "Wall Street financial
community" off the hook for its major role in bringing down our
economy.

Assuming that you are talking about the recent collapse of the housing
market, the financial community was absolutely one of the major
facilitators. There's lots of blame to go around however, starting
with misguided government policy which got the whole thing rolling.
No one was complaining when the party was in full swing. People
will be writing books about it for a long time to come, just like the
great depression of the 1930s.

I'm talking about the on-going collusion between the wall street
banks, brokers, investment bankers, accounting firms, et cetera, and
corporations, and, of course, the collapse of the housing market.

Among other things, itt seems to be getting rarer and rarer to see a
CPA firm "quit" a client over accounting disputes. That means that the
CPA firms are in fear of losing their clients, not that they are doing
the tough job they should be doing.

About 10 years ago, a former client of mine got into a dispute with
its big accounting firm. After three months of arguing, the
accountants said they would have to put a fairly derogatory note in
the annual statement. There was a lot of pressure on both sides. The
CPAs ended up by resigning the account. The "new" CPAs were far more
compliant.

I'm sure any client who would use your services would also need a very
compliant CPA firm.

That is if you actually believe Harry's bull****.