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  #9911 (permalink)  
Old 22-01-2023, 12:22 PM
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Originally Posted by Unregistered View Post
Don't go down that rabbit hole. In the end nothing in this world is necessary.

But we cannot disregard the value (perceived value) of third party assurance. If FTX was audited for eg, would you not have found early warning signs of lack of internal controls and **** with related parties? The fact that we are not actively finding errors or flaws is not the main issue.

The main value that we are providing is merely existing and helping the public trust companies better. It is like knowing there is someone checking on these companies every year. That is why any monkey can do audit and its pretty much the same, cus the value is not in the work you do, but in simply existing.
The fact that ppl still invest in unaudited companies say everything. It does not matter whether it exist or not, as long $$ is there.

Just becos 1 bad case ppl gg to glorify auditing is just pure nonsense. Dont forget about cases where shyt happens even with audit. History is there. A bullshyt job is always a bullshytjob.

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