Funny, in the diatribe over our local collapses and the US collapses, I have seen no mention of what their relative accounting firms/auditors had to say on the matter.
Auditors dont have executive powers in a company but they DO put their seal of approval on all company financials, dont they?
Here is an example where the Chief Financial Officer of New Century Financial was trying to get co-operation from the auditors, KPMG, all the way to eventual total company collapse. http://www.nytimes.com/2008/04/13/business/13audit.html?em&ex=1208232000&en=df222a76ba216c5c&ei=5087%0A
So what the heck were KPMG playing at? And what were the auditors of Opes Prime & Tricom thinking?
