@Going_Concern “Making Money The Old Fashioned Way: Exploiting IFRS Mandates”

My new post is up @Going_Concern  

The largest audit firms are suffering, not only because of the “financial crisis,” but because the Sarbanes-Oxley gravy train slowed in early 2006, came to almost a complete stop when Auditing Standard 5 was passed in early 2007 and hit a full stop when the SEC started pushing AS5 via the PCAOB in mid-2008.

Now the firms are looking for the next holy grail…the audit firms are now exploiting the delays and confusion and, along with that, circumventing the stricter scope of service and independence rules enacted with Sarbanes-Oxley…