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    • #7366
      Gary O'BrienGary O’Brien
      Participant

      The case study….
      It kind of reminds of circumstances where organizations use the same auditing firm to complete the external & internal audits.
      greed drove the modern version of Arthur Anderson to a more profitable division (consulting). profit trumping values.
      The loss of vision, mission, & values (or at least the disconnect). The BOD should have been more engaged by having auditors reporting to them. Many boards these days do have internal auditing teams that report (not to the CEO), but directly to the Audit Committee Chairperson on behalf of the BOD.

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    • #7395
      Jen BudneyJen Budney
      Participant

      Yes, good observation, Gary. When accounting becomes so complex that nobody on the Board seems to really be able to follow the reports, you know you have a problem.

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