December 08, 2011

21st century auditing

The head of bankrupt US brokerage firm MF Global, Jon Corzine, has told a congressional committee that he has no idea where its clients' money has gone.

This brings to mind Dave Barry's 2002 account of the Enron audit:

AUDITOR: OK, so you're saying you made $600 million in profit. 
EXECUTIVE: Correct. 
AUDITOR: Can I see it? 
EXECUTIVE: Sure! It's right here in my desk! UH-oh! The drawer is stuck! 
AUDITOR: Wow! Just like last year!



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