“The Big 4 don’t even like being called AUDITORS. Rather they provide ‘ASSURANCE Services,’ and act as ‘TRUSTED ADVISORS.’ This isn’t just rhetorical. It’s a cynical PR move and an effort to limit their liability.”
~ Francine McKenna, who will be on a panel with Lehman Brothers Bankruptcy Examiner Anton Valukas, NYT Chief Financial Correspondent Floyd Norris and others, discussing the financial crisis.
~ Thomas Jones, Director of the Center for the Study of International Accounting Standards at Pace University and former vice chairman of the IASB, on the SEC’s announcement that it’s sorta on board with the move to IFRS.