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A mind-blowing WSJ article...or does every C-Suite person already understand this...

Auditors Can Be Influenced By Management Preferences, Study Says
http://blogs.wsj.com/cfo/2017/03/21/auditors-can-be-influenced-by-management-preferences-study-says/

"The amount of information a company’s management provides its supposedly independent auditors strongly influences the decisions they make, according to a study by the University of Missouri."

Read the article and tell me that you, as a finance professional haven't learned this with our interactions with auditors over the years?

Answers

Anonymous
(Finance Director / Controller) |

I think the bigger takeaway are the proposed procedural changes. If auditors are required to develop their own estimates, audit costs will increase and (potentially) issuance of financial statements will require more time.

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

You think the bigger concern is cost/time instead of the reliability/dependability of the financial statements and the independence of external auditors?

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