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Report Summary:
Investors rely on the existence of a clean audit opinion from an independent accounting firm as a protection against financial fraud. Too often in recent years, however, auditors have opined that financial statements were fairly presented when those financial statements fraudulently inflated earnings or assets or understated liabilities. A lack of professional skepticism is often at the heart of audit failures. This article explores reasons for such failures and what remedies investors may have
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Author:
Friedman Kaplan Seiler & Adelman LLP
New York, NY
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Friedman Kaplan Seiler & Adelman LLP represents both plaintiffs and defendants in complex litigation relating to securities and other investments, as well as in bankruptcy, employment, insurance, and media-related litigation and white-collar criminal defense and investigations.
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