Five companies have become four companies. In this way, this cake is at least 10 billion yuan a year, and the other four companies should take off, right? Especially KPMG, the second child committed suicide, so your position will be more stable.

After thinking too much, the stock prices of the other four companies not only did not rise, but also showed signs of collapse.

Damn, it’s just an audit. To put it bluntly, this is simply a service industry. Integrity is the most important characteristic.

"What happened? It fell apart so quickly and didn't struggle for a moment?

By the way, what about Joseph Berardino? Didn’t something happen to the old guy?”

"Boss, his situation is different. Actually, I just figured it out. Anderson is a bit like a law firm. Don't you think their total number may be close to 100,000, but there are very few so-called core personnel."

"Damn, can you still play like this? If you want to tell me, this is not much different from Amway!

Hey, if you need some better people."

"Yes, boss, you can take action. I guess, the other companies may have already started to change the brand. Who cares about which company is using to raise the head."

William White was a little amused. As far as he knew, Harvey Pete was dismissed because of improper handling of this matter, but in William White's opinion, this was actually quite good.

It's just a pity that you just want to think about the so-called punishment.

No wonder, no wonder Xiao Bushu didn't say anything about arranging the population. It seems that there are experts who are giving him guidance.

But, did they tell you that An Ran is just a little bit, and you have survived 911, what is this little storm?

Otherwise, Eagle Sauce is very sad. After 9/11, the US stock prices are actually hovering in their status. I dare not say that they have investment value. At least, there is really no big risk here.

So, many bottom-buying guys are tragic again. It’s okay if you don’t use leverage. If you use this thing, your fate will basically be a liquidated position.

William White doesn't actually care whether anyone goes bankrupt or not. What he cares is that the atmosphere on Wall Street suddenly becomes very weird.

"Punishment? It's like a joke." Paul Volker was very angry. He told Harvey Pitt about the result now.

Do you think those guys will be punished?

You are too young and too naive. Do you see that, the only ones who are unlucky are shareholders and investors.

Bastard, not to mention that he has no eggs at all, he also opened a very bad head.

"This is not the worst. Nearly 100,000 people lost their jobs at one time can be considered a miracle. I heard that many bigwigs said that Harvey Pitt is really not suitable to stay in that position.

The paranoid who is overkill, in short, what is hard to hear.

If this guy is also miserable, why did he encounter such an embarrassing situation?"

"Oh, is it overkill? Believe me, Allen, they are brewing a bigger tragedy." As an old fox, Paul Volker quickly figured out the truth. The reason why Anderson went bankrupt was because the CSRC did not allow him to continue contracting with business users.

Well, if he changes his time, he will definitely worship him.

But now? Just two fools!

It was selected by Fortune Magazine as the most innovative company in the United States and fell down. All the praises sound more like a joke now.

In more than a month, Enron's stock price fell from nearly $40 to $4.

And what about Anderson?

Enron was audited for it in 1985. Half of Enron's directors had direct or indirect contact with Anderson, and even the chief accountant and financial director were from Anderson. Half a month after the outbreak of the Enron case, Anderson destroyed thousands of pages of Enron's documents.

Severe punishment is actually necessary, but for Anran, it may be more tragic, but Andaxin may not be the case. The company went bankrupt and the shareholders were frustrated, but what about those initiators? It seems that there are not too many punishments, right?

"Allen, they are brewing a new tragedy. In order to gain more benefits, no one cares about breaking the law. If the son's law is just losing his job, it will be even less important."

Greenspan agreed with Paul Volker's concerns, but so what? Are you planning to do something wrong? Or do you have the courage to uncover this scar?

Let me put it this way, the Securities and Exchange Commission investigated and punished more than a number of cases of employees or partners participating in a company audited by PricewaterhouseCoopers. In January this year, KPMG was criticized by the SFC for investing in a fund where it audited.

And what about Anderson? It is considered to be the most enterprising in mixed operations. Nearly 60% of its partners come from non-auditing businesses such as taxation, business consulting and company financial operations.

As accounting firms continue to expand, audit fraud has become a common problem. In the past few years, there have been hundreds of large companies in the United States that have distorted profit report data and corrected them. Behind each one, relevant accounting firms have made fraud. In this sense, Anderson's integrity crisis is not its integrity crisis.

Supervision of an accounting firm is completed by other accounting firms. This means that the entire accounting industry is a self-discipline and mutual supervision industry. Traditionally, the accounting industry is the key to investors and is responsible for supervising the financial behavior of enterprises. The accounting industry wins the trust of society and investors for its independence and justice. This is feasible under the conditions of less strong industry monopoly.

However, the formation of the "Five" in the United States and its huge business have made the US accounting industry a highly monopoly. Although there is competition between them, such as fierce competition in terms of customer sources, territory, and talents. In order to win in these aspects, they can suppress each other; but it is undeniable that they also have consistency of interests, such as in the mixed business operations and relevant legislation of the industry.

At this time, the "five major" conspiracies will arise, forming a united front, and jointly oppose legislation or policies that are unfavorable to them. When the economy is booming, the problems caused by the mixed behavior of audit and consulting in the accounting industry are not easy to be discovered, because the stock market only rises but not falls, everyone is happy, and everyone has money to make money; and when the economy is in a downturn, the bubble will appear, and after the bubble will see huge losses from certain companies at any time. At this time, the crisis of integrity appears, and people find that the accounting firm has "bet with its reputation". Of course, this kind of breach of trust is not only a problem of an accounting firm, but also a problem of the entire accounting industry; it is also a problem of social credit; it is only a certain accounting firm, the entire industry, and even the whole society. Because in this case, people can't help but ask: "Even Anderson has no credit, who will I go to trust?"
Chapter completed!