Sunday, December 25, 2022 1:53:45 PM
“You can’t get blood from a turnip, but you can get money out of an audit firm,"Knechel said.”
Auditors are required to maintain a “professional skepticism” of their clients, including alertness to error and fraud, the investor’s lawyers wrote in their complaint. “Neither Armanino nor Prager Metis did so here.”
https://news.bloombergtax.com/financial-accounting/ftx-collapse-puts-auditors-in-crosshairs-of-clients-regulators
"Be fearful when others are greedy, and greedy when others are fearful."
_Warren Buffett
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