Lynn Turner
Lynn Turner
admitted advocate against attorney counsel defense engage executives federal indeed investors message prosecutor rare sending shoulder stand thinking wonder
One can only wonder what message the U.S. attorney was thinking of sending to other executives who engage in such behavior. It is indeed rare that a federal prosecutor would stand shoulder to shoulder with the defense counsel of an admitted felon who bilked investors of over $3 billion, and against the advocate for investors, the SEC.
auditors avoid certainly dice less paying perhaps rolling share sold sympathy
While I certainly don't have sympathy for the auditors and accountants who sold the shelters, I have perhaps even less sympathy for those who were rolling the dice just to see if they could avoid paying their share of taxes.
arrogance bring certain disbelief money people suspension tends
When people get successful, when people find that they are making a lot of money, it tends to bring with it certain things like arrogance and greed. There was a suspension of disbelief in the 1990s. No one wanted to roil the waters.
areas certainly gone improvement seen
We certainly have seen some improvements in governance, but we've also seen some areas of no improvement, and some areas where things have gone backwards.
confidence good greater investors news numbers overall result
The good news is, as a result of that process, investors should have greater confidence overall in the numbers going forward.
companies company manage small turn
You can not manage a company without controls. Small companies turn into big companies, and you can't just turn the on-off switch.
company cooking excuse executives foremost numbers people stirring
First and foremost it is the company, it's these executives that put these numbers together, it's not the auditors. So the people who are actually in the kitchen, cooking the books, stirring the stew, so to speak, are these executives, and there is no excuse for what happened.
Yes, I would, but only because it is him.
stuff
That stuff isn't free. It has a cost.
financial indeed investors needs reporting trouble
If that is what the SEC accepts, then investors are in trouble and our financial reporting indeed needs improving,
approve assume complete consistent council decision determines
If the council determines not to approve the funding, we assume that will be consistent with a decision not to complete the investigation.
good hey horrible people stops
Wasn't horrible and it made sense. And if it stops people from speeding, hey that's a good deal.
agreed along aware case noted number problem release saw time
As it's noted in the release Andersen was aware of the problem and agreed to go along with it. That is problematic not only in this one but time after time after time at the SEC we saw that occurring, unfortunately in this case the number are just humongous.
ceo company imperial indicative poor
That's indicative of a company with an imperial CEO and very poor controls.