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To: Bobby777
The outfit I used to work for once got audited by a famous regional firm just one tier below Arthur Andersen once. Coincidently, they had strong ties to one of the local politicians who were trying to dig dirt up on us so his cronies could take over. Our regular CPA offered to do the job for $500. The regional came in at 10 times that amount.

Guess which one the county commisson selected? Well, come the day of the audit, they send a team of rookies fresh out of college to poke through all our records, ask questions and generally waste 10 hours or so over the next week.

Then they retreat to the HQ and volia', a month or two later they produce a report for the commission which can find no wrongdoing but which dwells on penny-ante stuff like we don't have three people opening the mail (in a two person office), we're not letting bids out to enough contractors, particularly those with political connections and other horse manure.

Of course, shennagians which we reported and would not cast a good light on their political bosses went unmentioned.

Then they have the audicity to sign the names of the owners to the report as if they did any of the actual work. I told the rookies who sat in on the meeting that I hoped they would be able to find honest jobs when the firm went the direction Arthur Andersen appears headed now.

137 posted on 03/13/2002 11:47:24 PM PST by Rubber Ducky
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To: Rubber Ducky
yes that's probably not an unusual practice ... fresh kids out of college are usually billed at $80-$85 per hour ... as a senior my rate was $185/hr ... however, as you stated, the objective wasn't to *find anything* ... I generally did non-audit work, though ...
163 posted on 03/14/2002 9:56:02 AM PST by Bobby777
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