111–120 of 303 posts
EY, Mckinsey, Accenture, BCG all of them should be banned. They were the big proponent of the the just in time management principles in the hospitals in the Netherlands. Then when covid came they were the first the market on twitter & linkedin for advice how to improve your health inventory & deal with covid challenges. Serious impact with zero skin in the game. These consultants are parasites. They are mainly used a…
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Curious, this seems like a good place to deploy AI tooling. If I’m involved in internal controls, I’ll know what the auditors look for. If an AI can augment the auditors to find more suspicious transactions such as to companies with no employees, or conflicts of interest - I could probably find more fraud.
I’m very excited to see how technology impacts financial reporting in the future. We’re rapidly approaching a point where every single transaction could be audited in real time with software, and the details of each transaction automatically scrutinized.
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It's the wrong take-away to say all regulations only hurt small sellers. Do you want to give up regulations on child labor, or worker safety, or foods and drugs? If not, how come, considering it all hurts only small sellers? The problem isn't the concept of regulation, but the follow-through on loopholes. By doing away with regulations you'll decrease quality of life for most people. Instead we have to find ways to r…
I don't think small sellers have anything to do with child labour. And since you mentioned loopholes, it is always the big players who get away with loopholes that small business owners do not
This is a remarkable claim. Why would you think that?
EY, Mckinsey, Accenture, BCG all of them should be banned. They were the big proponent of the the just in time management principles in the hospitals in the Netherlands. Then when covid came they were the first the market on twitter & linkedin for advice how to improve your health inventory & deal with covid challenges. Serious impact with zero skin in the game. These consultants are parasites. They are mainly used a…
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EY, Mckinsey, Accenture, BCG all of them should be banned. They were the big proponent of the the just in time management principles in the hospitals in the Netherlands. Then when covid came they were the first the market on twitter & linkedin for advice how to improve your health inventory & deal with covid challenges. Serious impact with zero skin in the game. These consultants are parasites. They are mainly used a…
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Digging into his post history to avoid refuting his point (which is overstated) is ... not appropriate? great? I can pretty easily agree with a weaker version of his statement: regulations have a disproportionate impact on small entities. They're expensive to comply with, and small entities tend not to have access to the exotic legal tricks and arms-length interaction with regulations that can make them much less eff…
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> As someone who knows nothing about this area, I don't understand why audits won't always detect fraud. as some one who studied accounting and auditing, here is a page from my text: https://kfknowledgebank.kaplan.co.uk/audit-and-assurance/aud... but the tl;dr is that auditors don't provide "insurance", they provide "assurance", specifically reasonable assurance.... that the accounts are "true and fair" or to be put…
What Engineering tech/AI tech do you think could make the process more thorough but not proportionally expensive?
i am NOT haying pattern recognition won't help, search for audit software and you will see each of the big four has specialized software. (here is EY's: https://www.ey.com/en_gl/audit/technology)
the problem is the issue of perverse incentives, IMHO. Audit takes a butt load of time and money, and disrupt business while they do their thing, and pays peanuts frankly... and audit firms earn more from associated services, contracts which they can earn if they don't bother the management too much.
yes, there are a dozen caveats and stuff, but frankly, the issue comes down not to technology but to people. The same network of people are in the few audit firms, and the spin out to join companies sometime later, who hire the same few audit firms, and so on.
EY, Mckinsey, Accenture, BCG all of them should be banned. They were the big proponent of the the just in time management principles in the hospitals in the Netherlands. Then when covid came they were the first the market on twitter & linkedin for advice how to improve your health inventory & deal with covid challenges. Serious impact with zero skin in the game. These consultants are parasites. They are mainly used a…