Auditors are a buch of fuckers. They want to give you a thumbs up, so you pay for next year thumbs up too.
In the US - it's certainly a sham and a scam. I wonder how American auditing compares to auditing in other countries.
That's everywhere. Here in Brazil PwC was giving accounting auditing approvals for the brazillian version of Amazon while executives and directors stole like 5 billion dollars from the company, leaving a bunch of retail investors on the hook.
The handful I deal with are almost unbelievably incompetent
Due to SOX rules, we rotate external auditors every so often, and apparently they do not have good documentation internally on what they are to ask us for. So we have to 'train' the new ones on what they're supposed to ask for and get each cycle
ed. For instance, I was answering questions about data we provided in fucking APRIL until this month. They also had duplicate requests set up for multiple items, and did not seem to notice until they were pointed out. They also spend a minimum of 3 months to get to proper review.
