Cliffs:
its like doing a huge problem in math class and not showing ANY of your work… except you dealing with financial statements for publicly traded corporations. and who knows if they really did the work :nite:
“In some cases, says the PCAOB, the deficiencies were so significant that the firm did not have enough evidence to support its opinion on the company’s financial statements.”
I don’t think its an Enron/Arther Anderson type of mess up, but they are going to most likely get SLAMMED in sanctions. they will lose a few major clients and their stock will go down.
Having signed with Deloitte, this makes me roffle. PwC are a bunch of cocky arrogant douchebags, every person I’ve met from there thinks they are God’s gift to accounting.
On a side note, Deloitte has been criticized with their audits as of late. Since the PCAOB has recently changed the GAAS standards, they have been cracking down on things thatwere once perceived as OK. Its kind of like the hazardous waste dumping back in the day- It was perceived OK then, but as times change so does the legislation
