tag:blogger.com,1999:blog-6924150004642013560.post9163450699223879391..comments2023-09-09T03:32:12.321-04:00Comments on EXCUSE ME LEADERS- Leadership During Times of Financial Crisis: MADOFF FEEDER FIRM AUDITORS-ARE THEY IN TROUBLE?Mike Policanohttp://www.blogger.com/profile/03888038747873570546noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6924150004642013560.post-50616203349799709132009-02-20T09:07:00.000-05:002009-02-20T09:07:00.000-05:00Anon, I guess people believe what they want to bel...Anon, I guess people believe what they want to believe. I once worked as an expert on an audit failure. The accounting firm's work was so poor that its insurance company settled during discovery which is highly unusual.<BR/><BR/>CheersMike Policanohttps://www.blogger.com/profile/03888038747873570546noreply@blogger.comtag:blogger.com,1999:blog-6924150004642013560.post-31991929572596540722009-02-19T20:21:00.000-05:002009-02-19T20:21:00.000-05:00In the case of Fairfield Greenwich Group, they "au...In the case of Fairfield Greenwich Group, they "auditor shopped" their way to favorable (and fresh) auditors who had little experience in the ways of Madoff. In fact, they asked only for a month end statement from Bernie (by then he had simply changed the account value and put it into T-bills) and accepted that as sufficient.<BR/><BR/>PWC Canada knows it has some serious flaws in their expected defense. SHould make for some interesting discovery?Anonymousnoreply@blogger.com