Hahaha, what I or anyone may think or what anymore smells is irrelevant to the AICPA and the standards which have been adopted, defined and accepted by FINRA and the SEC.
Audited financials are clearly defined to include specific data for the purposes of public Co financial disclosures by same. Whether this is performed in house or by a third party independent auditor does not change the structure or data stream included in the audit. As such, one should be be more specific when whining about audits of what they are referring to is an independent audit.
Let’s be clear re independent auditors as well, many big firms’ employees have been convicted of falsifying data for companies. Re first hand experience they can be easily swayed to the point of at least bending and stretching the rules.
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