Comments by "Praise The Sun" (@Praisethesunson) on "The Big Four - Accounting firms under scrutiny | DW Documentary" video.

  1. Management removing controls is a feature not a bug. That's how you make the profitable kind of fraud happen. Which is all the owners care about, and since those owners also own the auditors. It's a nice closed system.
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  2. We need to abolish the infinite growth model of capitalism
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  3. Lol there used to be 5 big auditors. Until one actually got punished for taking bribes to sign off on obvious corporate fraud. Corporations bribed politicians to make sure the auditors would never get punished like that again.
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  4. The only failing they are doing is being caught. They are designed to give veneer of legitimacy to corporations that deliberately lie to shareholders. Gotta keep pretending that infinite growth is a profitable business model. That's the only way executives get to keep buying cocaine and yachts.
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  5. Fraud is profitable so fraud is done. In the inherently illogical system where infinite growth is the only acceptable outcome. Corporations lying and auditors giving those lies a veneer of legitimacy is basically required.
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  6. Audit firms are shills designed to give a paper thin veneer of legitimacy to corporations inherently flawed business model b
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  7. But it's more profitable to lie. So that's what upper management wants done.
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