Precious little prudence in Forbes

Posted on January 19 2010

My latest Forbes column is out. Entitled â€šÃ„Ã²Precious Little Prudence’ it asks â€šÃ„Ã²When is a debt a bad thing--do accountants really even know?’

As I conclude:

[L]et’s never forget that both the IASB and IAASB are dominated and even significantly financed by the Big 4 firms of accountants and auditors - PricewaterhouseCoopers, Deloitte, KPMG and Ernst & Young.

According to popular myth these firms have had a â€šÃ„Ã²good recession’ — little blame attaching to them for what has happened. But that’s just a myth, because the truth is they carry a great deal of responsibility for what has gone wrong — and should bear the consequences.

Which is something I firmly believe.

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One Response

Calling all Manchester United fans says:

January 20 2010 at 9:31 am

[…] I’ve got to give Richard Murphy some extra kudos. Alongside acting for the TUC and having a toe in Whitehall, he’s landed a prestigious gig at […]