Professor Elam

Friday April 2 2010

Here is a link to the latest TSCPA web news. It features a discussion of the Lehman findings by the BK trustee as well as EY's response, guess what they contend  are innocent…

As I said, mood is too positive at this point for a protracted battle, and trying to put a positive spin on the recovery, mucking thru all the past mistakes will not help attitude. My guess is that this mess stays on simmer until the financial markets melt down again. At that point I expect the government to substantially nationalize the external audit function. Remember you read it here first…