HP-Autonomy: A Red-Ink Bath for Everyone - Re:Balance -- Jim Peterson:
"Sorry, Meg. Not for a generation has an effective due diligence team done any more with a standard audit report than throw it onto the compost heap at the back of the document repository."
Isn't the major problem here the whole concept of "good will" which just begs for financial manipulation and cheating? Wouldn't we be better served by not having such a concept? If a company wants to pay more than a company is worth (assuming worth is only cash and other measurable assets) that's their problem, but it should not be countenanced by accountants.
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