Henry Edwards33 said:Honestly, your perspective is incredibly negative—I’d even go as far as saying it’s insulting. Luckily, I haven't had the misfortune of dealing with people like you.
I’m genuinely curious: who exactly should be regulating this profession, and what specific things would they even regulate?
How many negative audit reports actually turn up at companies that have been audited, or how many fines are issued because of a bad report when it wasn't the management's fault, but rather the accountant's?
Trashing the entire profession and generalizing problems like this just shows a total lack of knowledge, information, and insight into how things actually work. It’s a trivial way to diminish the value of people based on the work they do.
It's not like I failed at being a hairdresser or a waiter. I've been working in accounting for quite a few years now, and I am extremely happy with my job and my income.
I believe things can be better, and that’s exactly why I’m involved in this. My commitment goes much deeper than just sitting behind a keyboard and anonymously spitting venom on a forum.
What exactly is the insult here? The truth is that accounting is one of the few professions in the USA where the majority of practitioners didn't actually start out in the field. It’s mostly former hairstylists, servers, failed lawyers, and administrators.
I'm not sure if you realize that this isn't exactly a normal situation, nor is it how things work in other countries. In fact, when it comes to accounting standards, Canada is actually a few levels ahead of America.
"Quote:"
| I'm genuinely curious: who should be responsible for regulating this profession, and what exactly should fall under their scope? |
We need to certify the individuals authorized to sign off on financial statements, but more importantly, we need to establish actual accountability. While the specific requirements for certification are open to debate, we absolutely cannot allow these "associations" to hold a monopoly on expertise. Right now, we have a situation where certain figures in the audit chamber refuse to recognize some of the most prestigious accounting credentials in the world. It’s funny how those same qualifications are considered more than sufficient for executives at the largest global corporations, yet they aren't quite good enough for us. I suppose it's easier to protect the chamber's bottom line that way.
Accountability is non-negotiable. If you participate in an intentional violation of the law—whether for your own gain or someone else's—you are liable, period. That means being barred from the profession and facing criminal charges. After all the investment in college and voluntary certification, people should at least have the integrity not to act as bookkeepers for some small business owner's theft. $167If we can't step in to stop it at a higher level, then there isn't much else to be done.
How many negative audit reports actually surface for companies that undergo an audit? Specifically, I'm curious about how often fines are issued due to poor reporting when the fault lies with the accountant rather than the company's executive leadership.
Do you actually understand how an audit works? Unintentional errors that serve no one's interest get corrected during the process. What is done intentionally, however, almost never makes it into the sample. If an auditing firm doesn't want to take on the risk, they simply walk away from the engagement, and the owner pays someone else to issue a clean opinion. More often than not, fraudulent activity just misses the sampling entirely by pure chance. The audit itself is conducted strictly according to law and standards; it is impossible to review every single transaction, so sampling is a necessity. The working papers remain spotless, and any reconstruction of the audit process would only confirm that everything was performed properly. Even the Big Four were cleared of all charges in court following the Enron scandal—the largest bankruptcy in history. They couldn't prove anything against them; they collapsed because of their reputation, not due to proven malfeasance. And of course, those professionals just moved on to work at other firms. It’s the same story with Walmart—the auditors were dissolved, and nothing happened. Any attempt to pursue criminal charges against an auditing firm is just a waste of time and money.
When was the last time you heard about an audit reporting State Attorney Financial Malfeasance in America? It’s hard to ignore that roughly 90% of privatized companies here are involved in blatant criminal activity and looting. Yet, from 1991 through 2018, despite this entire era of plunder, every single audit opinion remained positive. I can look at a balance sheet and an income statement for two minutes and tell you exactly whether a small business is operating under the table. It’s hard to believe that an organized audit firm, with full access to all documentation, just "happened" to miss decades of systematic theft. Pure coincidence, clearly.
The defense is always "that's not auditing's job." Well, obviously not. Their actual job is to issue a clean opinion and collect their fees in a way that keeps them shielded from any legal fallout. It’s a fine art.
Attacking the entire profession and generalizing the issue just shows a total lack of knowledge, information, and insight into the matter. It trivializes the work and devalues people based on their profession.
How exactly am I devaluing the profession? If anything, I might take it more seriously than others do, simply because this is my career. In every firm I've worked for, I've been told, "your department isn't the most important one." Fine, maybe not, but it is essential. I don't cut corners; if you want things done poorly, do them yourself.
So, because I won't accept that "hairdressers" are running the show in accounting, suddenly I'm against the whole profession? I'm entitled to my opinion, and if you don't like it, that's your problem.
I wasn't a failed hairdresser or a waitress. I've been in accounting for a decent number of years and I'm quite happy with my work and my salary.
I believe things can be better, which is why I'm engaged in this—it goes beyond sitting behind a keyboard and venting anonymously on a forum.
I haven't called anyone out by name. Besides, regulations aren't written for you or me; they're written so that in 10 or 20 years, accounting actually looks like something.
Moving on...
Tell me, how is it possible that after this massive scandal in America, no one questioned the accountability of the accountants and auditors? Who carried out this financial heist? Who prepared the reports and signed off on them? Who conducted the audit and how? Where are those people now? Did anyone face consequences, criminal prosecution, or a ban from practicing? Or are they just passing their experience in fraud along to the next job, well-paid for it? Take Walmart, for example—who is responsible for the fact that citizens' retirement funds were gambled away? The leadership stole, sure, but who falsified the statements? What is the point of all those official seals, signatures, documents, and reports then?
If a doctor unmasks even a single patient, they face criminal charges or, at the very least, lose their license. But in finance and accounting, there is zero accountability; instead, we see public campaigns and petitions asking "hairdressers" to sign stuff! Everyone needs to step up and realize you're turning this profession into a circus just to serve your own petty interests.