I was never a Certified Public Accountant... I just had a degree in accounting. The reason I was never a Certified Public Accountant was because it would require passing a test, which I would not have been able to do.
The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.
I always assign auditors to strictly supervise the businesses.
Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods.
Accounting is a big subject and there are huge forces in play. The entire momentum of existing thinking and existing custom is in a direction that allows terrible follies to happen, and the terrible follies have terrible consequences.
A board of directors that cannot produce reliable audited financial statements for almost seven years simply should not remain in office.
We must investigate without fear or favour the so-called 'accounting irregularities' that cause turmoil in the markets and wipe billions off the investments of ordinary South Africans.
Enhanced transparency has helped to reinforce the stability of India's financial system.
Americans like to make money; Canadians like to audit it. I know no other country where accountants have a higher social and moral status.
