Category: Uncategorized

“We do an audit every year.  Our auditors would have told us if anything was wrong…” One of the mysteries of the Enron scandal was how could an auditing firm issue a clean opinion on the company only to have it collapse shortly after.  One of the reasons, in my humble opinion, is an expectation […]

“Our Finance Committee looks at everything…” On the surface, this sounds reasonable.  But, it all hinges on how one defines “everything.”  The success of this statement in preventing or discouraging fraud depends totally on exactly what the finance committee or elders are given. Often, in the interest of expediency, those charged with the financial oversight […]