Replies to post #4038 on Value Microcaps Zip Code Changers

[littlefish]

LFT- that's more like it:

http://www.bloomberg.com/news/2011-05-23/longtop-says-auditor-deloitte-resigns-as-sec-initiates-inquiry.html?cmpid=yhoo

Should help the smallish short position.


What would be nice is if auditors were forced to pay a very small fee annually on every audit they do to go to a cash account.

Then have that cash account have payouts to anyone finding irregularities in company results that auditors themselves did not find and that lead to conclusions that unearth fraud or other illegal accounting and/or reporting activities by companies.

Fraud still seems WAYYYY to frequent in investing land and at least IMO the grimy crimiest guys get away virtually scott free much of the time to perpetuate and further hone their practices/techniques to rip people/investors off.

Since people seem keen on auditors being a line of defense to discover these potential irregularities, why not have a reward system in palce for those that are better than auditors/accounting firms at finding fraud?