Here’s an inter­esting story coming out of Dallas: Embattled multi-level marketing firm Mannatech has fired its independent auditor, Grant Thornton, after the auditor gave the company an ultimatum: Remove Chairman and founder Sam Caster from the company or find yourself another auditor. So they found themselves another auditor, BDO Seidman, and let Grant Thornton go. […]

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From Lickspittle Shite-a-bed comes this very funny “history” of auditors, including this gem: Stock­taking is a strange version of foreplay perculiar to auditors. The audit pack will arrive at an indus­trial premises at 6am in the morning and demand to know how many widgets they have. The auditors will then spend many happy hours counting the […]

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The SEC has announced it’s going to be including companies’ external auditors in their inves­ti­gation into options timing abuses commonly known as backdating. Author­ities were said to be looking at what auditors knew about company manip­u­lation of options’ grant dates and exercise prices to boost their value to execu­tives who got them. About 30 companies […]

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