Fraud is going virtually undetected these days.

Our profession is in shambles. 📉

likefunnysmart
Posting as :
works at
You are currently posting as works at

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? 🤔

Related Posts

When are Pune offices reopening?

Other than meeting up w a friend at the park every 3ish weeks, I’ve taken social distancing seriously since Covid started ~8 months ago. However, I don’t have a family or partner & am starting to really miss social interactions, esp on weekends. Should I grab a drink by myself at an outdoor bar tonight?

like

Hi Fishies. Im 31 yrs old,spouse 33 yrs old. We are going with IVF due to male factor. Today we got PGT results from CCRM Boston. Among 7 embryos, 5 came normal. 1- 5AA(male), 1-5AA(female),1-4BB(tier2,female),1-4AA(tier1,female), 1-4AA(tier 1, male). What is the best embryo among them? This is my first IVF. And little nervous as well. What could be the reasons if the embryo is not implanted ? Is it something with to do with me? Do we need to do anything from our side, like acupuncture ?

like

I am asked during this RE analyst interview to build a real estate model from scratch. My background is commercial banking and I am used to analyzing real estate deals from the lender side not the developer. The interviewer is generous I must say he’s giving me a few days to complete. However this model is for a ground up multifamily development. I have no prior experience building one. I can find models online but all very complexe to reproduce. How would you handle? Do you have model to share?

like

My firm’s IT (especially system saving and file locating function) is so bad 😐😞 and they keep doing updates no one asked them for just to mess with the stuff we already got a hang of without doing anything about the issues we actually need fixed. Anyone else in a similar boat? Do you bill the client for the time it takes to fix the IT issue (or IT inefficiency generally, like time taken to find a file in a convoluted system)? Or is that supposed to be our non-billable time?

like

Shana Tova to all...a happy healthy and successful new year to you and your loved ones!

like

To HCL guys : if i join HCL now when will be my hike happen?

When i will get my variable , confused if i join in oct2021 then after 14 months dec 2021 i get variable??

Joining hcl in october 2021

like

Associates

What information do you want to learn from the interviewing when interviewing for a position out of law school?

What information do you think the interviewer should learn from you?

like

Hi Fishes.. 6 yoe in SAP SD, i got 2 offers one from Wipro14 lpa role tech lead and other from Infosys for 16lpa role consultant.. i feel in Wipro the role is good but package is very less and in Infosys the role less for my experience and package can also be revised.. what can i do.. need your valuable inputs if i can negotiate with anyone of the company or which i can choose.. TIA.

like

Hi fishes, 26 of nov i give the interview after that 28 of nov i got a mail to upload document on ibegin and same day my doc is verified .

But in 29 of nov show two status in ibegin current and previous status in current it show resume is shotlisted and previous it show evaluation in progress.what it mean?

like

Hello fishes, i am set to join Accenture as a Cloud Data Architect . However the Job Profile offered is Data Engineering -AM & job Family Group is Analytics and Insights. The JD shared during the interview says : Project Role Description : Assists with the data platform blueprint and design and Key responsibilities is a. Pre-sales and solution ownership of sales pursuits data analytics related services for cloud b. Own end to end RFP or RFI etc. Does it mean work is on presales only ?

like

I am working for a client in infosys and the project is in initial stage and the go live is somewhere in January.

Now the thing is this project has lot of toxic people from client team and they play blame games on daily basis.

I am working as a team lead here and want to get deallocated from this project.

Please help me with right approach and save my soul.

like

Anyone have great success applying to jobs they are not sure they qualify for on USAjobs?

like

Hi folks,
Please help me calculate the monthly in hand salary before I accept.
Thanks & regards.
My current pay is 7 lakh fixed, with 60000 variable/year. Which comes to around 54,000 monthly in hand

Post Photo

Cognizant Will cognizant give a Diwali bonus?

funnylike

Which company is better to join as BigData Devloper\ Data Engineer?

Persistent - 25 LPA fixed
Deutsche Bank - 25 LPA fixed

YOE- 6.5
@persistent@Deutsche Bank

like

Ripple at .666 Hmmmm

like

If LinkedIn and Reddit had a child, Fishbowl would be it. Or at least that’s my first impression…Hello All!

like

2𝐇 2021 𝐒𝐀𝐏 𝐒𝐮𝐜𝐜𝐞𝐬𝐬𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐢𝐥𝐢𝐭𝐲!

#SAP #SuccessFactors #HXM #2H2021

Post Photo

Additional Posts in Audit Bowl

I’m a senior at a mid tier and been working about 70-75 hours for last 3 weeks on a SEC client. Now I roll off to a new job but the manager wants me to come back and help out the team more. Should I do it? I don’t want to fail at both jobs. Is that even reasonable to ask someone to work on both jobs?

like

Unfortunately was dragged into an audit despite the fact I don’t work in audit. Why does audit RM say yeah your hours will be 50 hours/week when you’ll have to work way more to do the audit. Seems very dumb - if you have work do it, if not don’t work…

like

Busy season has public accountants like

Post Photo
like

What are Auditors making at start ups/unicorns? Obviously the Software Engineers are the ones making small fortunes, but what about Auditors? Are they granted a good chunk of equity as well?

like

Starting to see a lot of compensation threads and even within the same city, the variance of salary is really noticeable. I didn’t expect the spread to be this high, especially in high COL areas.

like

Anyone wanna rant? If so, please provide details of the craziest shit u have been through in ur career🤗

funny

Heard PwC gave $500 to staff for every in-person inventory they performed. Can anyone confirm or deny this?

like

my stress level peaks when there is so much work to do and the filing day is only 2 weeks away 🙃

like

What do senior associates in Chicago make?

like

Anyone here has taken the PMP certification ? Is it worth it over MBA and if you're managing projects in Advisory?

like

Scheduling added another S3 (my level) to my engagement but acting as a manager, while I’ve been on this engagement for a few years and getting great reviews. My ego is shot and I’m insulted. Advice?

Do accountants in the tech industry make a lot for salary? Above average than other industries? Like Cali / tech

like

To those using Prosystemsfx, have you had issues with not being able to insert rows or indent text in Excel? I’m sure there’s more but those two not working really bugs me

like

I think the Matrix is broken, I just had a déjà vu.

funnylike

Could anyone kindly tell me about the Investment Management and Private Equity Audit Group at Deloitte? 1. Work Life Balance (Is it worst than the ordinary Big 4 WLB?) 2. Is it an entirely different audit from commercial/retail audits (think account balances etc.) 3. Difficult to learn how to audit clients in this industry without prior experience in the industry?(been doing commercial audits for 3 years) 4. Are there relatively good exit opportunities for this audit group? Deloitte PwC EY

like

Just signed the outside employment form in KPMG onboarding system. I actually wanted to start dabbling in creative writing as a potentially monetizable hobby, but I'm guessing this may pose issues.

Definitely interested in the "exception from this policy may be requested if provision of non-professional services doesn't interfere with one's duties of causes conflict of interest" clause, though. Has anyone been able to get one of those before?

likesmart

Anyone familiar with working for the state? I think I’d like to switch to governmental after doing research on the work, hours and benefits. Any tips from those who have made the transition or currently work in gov?

like

Is part time work in audit ever possible?

like

KPMG I’m interested in learning more about your AWA alternative work arrangements. Any success stories? When would be the appropriate time to request one? Are certain types more likely to be approved than others? What does a compressed work schedule entail?

like

New to the US. Currently based in SF, CA. What is the most efficient and cheapest way to gain more CPA credits? Require 30 more credits.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal