Fraud is going virtually undetected these days.

Our profession is in shambles. 📉

likefunnysmart
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What makes you say this?

like

Yep on the nose.

Agree. Especially in audits of private equity funds. Clean opinions are given on valuations without any audit of the numbers like revenue or EBITDA used... it is eye opening to see and if you dare say anything more should be done you are quickly talked to so you get the message to fall in line.

likehelpful

They are Level 3 investments....Id like to think most audit firms are doing enough work around inputs to valuations to deem them reasonable. At the end of the day, the disclosures are clear enough in a closed end fund to mitigate any risk. The only risk I can truly see are for the transfer in/out LPs.

That’s not our job ….

like

Material fraud is.

If fraud happened at Tesla the stock would skyrocket🤡🤡🤡

like

Don’t even talk about $TSLA…🤦🏻‍♂️

I’ve heard different accounting rumors about that place for years now.

How much fraud would occur if we did not exist? The dog that did not bark.

like

The dog that did not bark? Hmm? 🤔

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