Comments by "May L" (@MeiinUK) on "The Big Four - Accounting firms under scrutiny | DW Documentary" video.

This is whereby, you send in tech consultants to test the waters and do an overall napping first before you send in the accountants. And you have to keep checking. And if the company is indeed smart and compliant, then you need to have actual decent both internal and external decent people. I was horrified that I was let go off when I had a very very simple conversation internally.... Even though the issue was so simple. The entire finance dept was very edgy. I've worked with so many accomplished accountants, none of them would question my behaviours since they know and trusted that the system is also built with compliancy to begin with ? Sometimes their own internal finance management can indeed be a little bit too... Anxious. And anyway, a CFO can order separate test audits of their own company. He has such control or any secret work that they want to know away from their own subordinates etc as a health check. Mostly are systemic etc.
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There used to be lots of accountancy firms that kept things secure. It is also because they rolled up such that this move strategically caused their own market issues.... Nothing wrong with keeping different business units in different countries and stay within their regions etc. any internal training needs to be kept a closed eye into etc. This is why financiers themselves are also peer reviewed too. And the most important part is taking the value of history into place. This should be an actual research paper piece for universities. To garner actual understanding....
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It does exist. Don't be put off by this article.. cos the "globalisation" piece isn't exactly true... Cos.. what they are discussing is that, the internet didn't even exist way back when and then... and what is happening is that, they didn't take into account, the technology piece to financial transactions... Consulting firms were really technology consulting firms as well... And not necessarily management consulting, without the technology piece to it. Cos what they are saying isn't exactly true... And bearing in mind that, this "documentary" is being hosted on technologies... that did not even existed... when Wirecard did exist possibly as a company way back when... So this is a very and extremely cheeky piece of documentary that is catching out companies, in a historical aspect of changing laws.... Well... this is what they are doing. Just waiting to catch them etc.
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This is why... UK is always the better country to do auditing and to do finances, cos it had been built up over the years... I don't get why Germany is like this. Cos they lack that impartiality to begin with? And that is no way to work, at all. Same with the USA as well... and now, they try to force the sitation to deal with offshore issues too... most people understand what needs to be done. Sometimes, even if you are not the technical individual.. you could actually outsource the technical work as well... but project managed by an actual separate firm. Another accountancy firm. With the entire details, in black and in white? Some people does not know.. what and why....
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Er.... This is actually quite wrong. Because... Euro was not created way back then. And the idea that, an actual State, a SOVEIGN money... existed.... And this is different to what this news report is saying !!! Cos even the actual entire European legal structure itself, does not even exist !!! And nor did the UN either !! Europe doesn't have the structures that the USA had either, with different states with different tax laws... So... This is actually acceptable, and it is legal ?.... Audit is and should be an arm's length impartial to the accounting dept. Any good company, should have both internal and external auditors. That is, their OWN AUDITOR EMPLOYED BY THE COMPANY. Not externally outsourced by those companies to sit inside the organisation. That should not happen at all. I don't get the point of this actual supposed "news" article... Cos isn't "you tube" actually NOT legally a "television company" ??!!?!.... And the fact that this DW Documentary is being hosted on this platform company.. is itself... also not paying their latest and new SAAS tax either... LOL.... Which.. again, you don't know how it should be charged, since it depends on where the viewer is, and which company actually is the sales to be recognised...
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This is just a documentary company that doesn't want to be accurate... cos there is another proper actual piece on what the banks did... and they had actual whistle blowers as well... But bearing in mind that, "media" companies, themselves are also corrupt too... and they have been accessing, sorry.. stealing some of the info.. and stalking... without actual rights. Cos the way they uses those kind of edits.. Not all of them, have rights to access either... Cos they are borderling being criminals for various offences too. I wonder if they themselves have pensions linked to the stock markets also too. The very thing which they are "investigating".... lol...
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@AshrakAhmed : You cannot get audits of the suppliers and external individuals etc. Cos that isn't your job. You are deviating from your audit role ? That is actually illegal. You should audit that the process of the supplier management is in place and check that the systems are working and have been working consecutively etc. You've never done accountancy, have you ?.... Lol... Omg.
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@crassgop: You cannot call it fraud when the company's role is indeed data .. !.... The question for fraud is what type of company they are trying to be. Wirecard sounded like they got trapped in-between changing laws at that time if these turn if payments and laws are coming through etc. So.... But it still should not be stopped from happening. The audit firm should also protect their clients too and mitigate risks. That is their role. It's why they have financial backing to cushion these firms from collapse for.... It is as designed.
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Bingo. Also, they are merging ACCA with CFA. Or with CIMA. Etc. sometimes they can indeed ask their clients to split. Or that they find and recommend a new CFO etc. To have both internal, and external control etc.
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@MijoShrek : LOL.... This is a split of the accountancy firms.... Basically, Germany doesn't want British firms in European soil. Germany is saving their ass, that is why. Using SAP instead of an accounting firm... Basically Germany wants to protect their stock exchange, as well as their transactions in euro... and they already have the infrastructures, SAP to do it for... Absolutely diabolical...
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They are doing this deliberately for a purpose. More like trying to incubate the marketing tech and sectors. Hence why you are watching this show now.... That is why it is clear that some are taught to lie. And some are taught to literally make mistakes. On purpose. Political much ? Since Enron. Lots of companies were cleared.
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