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Re: camelsaremything post# 19935

Friday, 08/19/2016 10:37:48 AM

Friday, August 19, 2016 10:37:48 AM

Post# of 30926
Again, please, understand. The most important thing about auditors is that they are independent. Kevin can not push them. Please look up the sarbanes oxley. It was put into law as a response to the Enron scandal and auditors not doing their jobs. Any attempt by any company to push or manipulate auditors in anyway is inappropriate and possibly illegal.

http://www.journalofaccountancy.com/issues/2003/sep/howsarbanesoxleywillchangetheauditprocess.html

And while you might think the audit process should be shorter for smaller companies, often the opposite is true,

"Smaller public companies may face unique problems in complying with section 404. Frequently these entities have less extensive documentation of their control processes. Further, they may not have the same levels of accounting or internal audit capabilities as larger companies, which could require relatively greater external auditor involvement in preparing controls documentation, within the independence constraints described above, and a proportionately greater increase in audit engagement hours."


I'm not saying I know exactly how long it should take, just trying to help people understand the process and what might be happening. Auditors are independent.

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