Thursday, March 16, 2006

Global CEOs Say Globalization and Complexity are Today's Key Issues: PwC Survey

Price waterhouseCoopers keeps advertising on our site about their recently published global survey of 1,400 CEOs. So we decided to check out the survey and results....

1 comment:

lorne said...

Shy and bashful... ACCOUNTANTS/AUDITORS...?

The problem is not globalization, it is compromisation by the CEO's. They want to manipulate the results in financial reporting; they want the accountants to "blink...."

As an Andersen alumnus of long ago, I believe that the accounting profession needs to get back its stomach for battling the war on ethics and morality in financial reporting. This means big time legal fighting.

This means that when an accountant/auditor is being coerced into compromising disclosure issues, the said accountant/auditor should without hesitation give notice to the client of contemplated resignation from the engagement. If management wants to fight and push their deficient or compromising agenda,the accountant/auditor should not hesitate to resign. The accounting profession needs to show its teeth (fangs) to the clients who are trying to manufacture questionable disclosure.

If auditors resign from a few, just a handful, of high profile engagements, the CEO's will get the message.

This means that auditors should not be fear stricken about losing a client; its not the end of the world....

Right now the accountants are really gutless and not getting the respect they deserve, and they're being pushed around by the compromiser/manipulator CEO's.