[tired&retired]

As a retired CPA who previously did audits of big corporations and prepared the SEC filings, let me say that I always found that a quick view of the petty cash, and expense account expenditures of the CEO and CFO were very good indications as to the credibility of the rest of the information they were providing. Many times they would get mad and say that these small transactions were not material in comparison to the millions of dollars in the financials. Credibility is the key.

[FreedomPoster]

I really like that! A quick way to determine the character of management, character of course being "what you do when no one's looking." I'll have to tell my (tax, not audit) CPA wife about that one.

[SC Swamp Fox]

Credibility is the key.

I am an engineer, but I am working on my MBA. When I took my basic accounting classes, I was impressed with the ethic of accounting and the importance of the independent audit that our instructors stressed.

Enron & AA should be case study #1 in next year's text books.

There will be no confidence in the stock markets until we can trust the financial reports on which we base or decisions.