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Posted
Of course it makes sense to have accounting professionals decide accounting regulations. But you could have an independent body staffed by accountants deal with issues of malpractice in the profession. Of course you'd have accountants investigating accountants but at least they would be answering to different bosses.

I'd agree with that, seems reasonable. Where is the funding going to come from? The profession (ie. their customers) or from the government, to setup such an expensive oversight agency?

No, but an accountant would be able to investigate a doctor who infects hundreds of patients with Hep C over a full decade, while the medical association hid behind privacy concerns and failed to investigate for 10 years, no?

Hiding behind privacy acts and the such can be done by anyone with an interest in doing so. An accountant or a doctor in this situation could hold up the process equally. The premise of my argument is that professional oversight boards need to be staffed by the said profession. These are highly technical jobs now that randoms off the street aren't going to be to just figure out and issue rulings.

Having them independantly paid does make sense to me though... now we'd have to look at the cost and who'd be paying it.

RealRisk.ca - (Latest Post: Prosecutors have no "Skin in the Game")

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Posted
Having them independantly paid does make sense to me though... now we'd have to look at the cost and who'd be paying it.

Well, how much did Enron cost? How much of that was AA on the hook for and what was the ultimate cost to AA? How much did the shareholders lose? How much did dozens of other organizations pay for it? CIBC was on the hook for $2.4 Billion.

I don't know how much it would cost and what the benefit will be (I simply haven't studied the issue). But as they say "an ounce of prevention is worth more than a pound of cure" and I think that it's definitely worth looking into.

On a side note, I think that there is too much pressure on accountants to do things that are questionable and some would probably welcome a better excuse for not doing them.

Posted

My accountant about four years ago was doing my personal income tax and hired high school students to do the work. They forgot to send in my return and I got a letter from the gov saying I owed them $350.00 fine for late filing and they wanted to know where my return was.

I called the accountant he said - "sorry but its your responsibility to send that it". Its standard practise for accountants to send the file in and he denied that, he had also sent them in in years previous and years after that. I owed him $650.00 at the time and told him that I was going to take the $350.00 from that and pay gov. He threatens to have me audited. I tell him the phone call has been recorded and he won't be getting a cent from me. He crawls back into his little hole like weasels do.

You have to understand that these people are often arrogant stupid criminals and you have to expect that going in and have your guard up and be prepared to deal with them. That stunt cost that little weasel $300.00 plus I fired him. A few of my friends were looking for accountants at the time, plus one other person fired him after hearing that and already being suspicious of him.

My one mistake was not recording a lawyer while I was being threatened & extorted. There is no limits to how low a lot of these people will go. The scum bag accountant was bragging about his $20,000.00 bathroom to some of my friends just before all this.

Support the troops. Bring them home. Let the bankers fight their own wars. www.infowars.com

Watch 911 Mysteries at http://video.google.com/videoplay?docid=-8172271955308136871

"By the time the people wake up to see the bars around them, the door will have already slammed shut."

Texx Mars

Posted

It's unfortunate that you had that experience, I can assure you that's not a common type of behavior that you'll see. I actually strongly encourage you to report him to whatever board regulates the designation that he held. If anything, to protect others from this abuse.

He won't have you audited, he really doesn't have the power.

RealRisk.ca - (Latest Post: Prosecutors have no "Skin in the Game")

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Posted
You have to understand that these people are often arrogant stupid criminals and you have to expect that going in and have your guard up and be prepared to deal with them.

Any consulting based sevice is like this. From a home contractor, to a consultant, to anything else. They will always try to lie in order to get your money. I do not like to deal with these poeplep for the reason that it's just standard they will take you money.

The Doctors are raping the system. But you're talking about $40 per visit. The surgeries are set pay. It's not this that is bankrupting our system.

---- Charles Anthony banned me for 30 days on April 28 for 'obnoxious libel' when I suggested Jack Layton took part in illegal activities in a message parlor. Claiming a politician took part in illegal activity is not rightful cause for banning and is what is discussed here almost daily in one capacity or another. This was really a brownshirt style censorship from a moderator on mapleleafweb http://www.youtube.com/watch?v=Q1oGB-BKdZg---

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