http://goingconcern.com/2009/11/grant-thornton-patrick-byrnes-pants-are-on-fire/ Accounting News for Accountants & CFOs Sun, 14 Mar 2010 01:07:32 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://goingconcern.com/2009/11/grant-thornton-patrick-byrnes-pants-are-on-fire/comment-page-1/#comment-4046 guest Tue, 24 Nov 2009 20:04:43 +0000 http://wp.goingconcern.com/2009/11/grant-thornton-patrick-byrnes-pants-are-on-fire/#comment-4046 One of the larger firms will probably end up taking them on, but it may be after some regulator fallout (probably in response to a restatement and at fees commensurate with the risk). Obviously the SEC, and NASDAQ, have read the letter from GT, and I doubt they're going to ignore the fact that Byrne is going rogue for long - even barring NASDAQ's former comment that they had until January to find a replacement auditor (which they're obviously going to have trouble finding, now). It's funny - you never actually see somebody in the business world make such a bonehead play like this dumbass just did... Did he think that CPAs just take it up the kazoo from whichever CEO comes along? One of the larger firms will probably end up taking them on, but it may be after some regulator fallout (probably in response to a restatement and at fees commensurate with the risk). Obviously the SEC, and NASDAQ, have read the letter from GT, and I doubt they’re going to ignore the fact that Byrne is going rogue for long – even barring NASDAQ’s former comment that they had until January to find a replacement auditor (which they’re obviously going to have trouble finding, now).
It’s funny – you never actually see somebody in the business world make such a bonehead play like this dumbass just did… Did he think that CPAs just take it up the kazoo from whichever CEO comes along?

]]> http://goingconcern.com/2009/11/grant-thornton-patrick-byrnes-pants-are-on-fire/comment-page-1/#comment-4045 guest Tue, 24 Nov 2009 16:24:30 +0000 http://wp.goingconcern.com/2009/11/grant-thornton-patrick-byrnes-pants-are-on-fire/#comment-4045 Nothing like a good Byrne burn! It sounds like GT accepted the risk, used an appropriate tolerance level, and acted on tainted communications. Good for GT... Nothing like a good Byrne burn!
It sounds like GT accepted the risk, used an appropriate tolerance level, and acted on tainted communications. Good for GT…

]]> http://goingconcern.com/2009/11/grant-thornton-patrick-byrnes-pants-are-on-fire/comment-page-1/#comment-4044 guest Tue, 24 Nov 2009 15:37:02 +0000 http://wp.goingconcern.com/2009/11/grant-thornton-patrick-byrnes-pants-are-on-fire/#comment-4044 Give GT some credit for having a pair! Give GT some credit for having a pair!

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