When accounting goes unaccounted for
“The SEC at least knew of this issue and tried to inquire when they could.”
~ Don Whalen, AuditAnalytics.com’s director of research, is referring to the Commission’s knowledge of repurchase agreements used by various companies as early as 2004, but could easily be talking about Bernie Madoff.
“The honest way to raise more revenue would be to raise income tax rates. But it is more politically attractive to tax these kinds of things. No one can get mad at you for taxing people who drink too much.”
~ Peter L. Faber, tax attorney, on sin taxes.
“KPMG is obviously such a vast business that it could probably survive nuclear war.” — […]
“It is the last part of the business I would hand over to someone who is less than qualified.”
~ Barbara Taylor, co-founder of Synergy Business Services, on the accounting function.