It ain't easy being squeaky clean. Few of us are. The Wall Street Journal reminds us today of some of the past companies that were clients of Grant Thornton, Refco's auditor: Parmalat, one of the biggest European accounting frauds ever; MCA Financial, a dead mortgage banking company. In both cases the primary charges against the companies by the authorities concerned accounting issues. The baldness of the previous statement does not mean that Grant Thornton is an amoral company; it just means that it may have some partners who are or some who are very gullible and believe whatever management says.
Clearly, the 21st century is not starting out as one on which accountants will look fondly years hence.
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