Accounting standards have institutionalised a warped interpretation of the balance sheets of banks and other lenders, masking absurdly inflated asset values.
Unelected European technocrats push ahead on the Euro project despite the fact that its misbegotten origins and processes make that objective impossible.
Professionals avoid risking the loss of personal assets by insuring against the consequences of their own mistakes, but mounting a sustainable defence is the problem.
Co-authors Emile Woolf & Moira Hindson set out actual examples of audit, accounting, valuation, tax and other practice mistakes that have led to legal actions for negligent professional work. This is an ongoing and invaluable guide to what can go wrong, and how to avoid the dangers.
Emile Woolf on Audit Exemption (CCH Editions, 1994)
Auditing Today (Prentice Hall/ Pearson, 1997)
Professional Liability of Practising Accountants (Accountants’ Digest Series, CCH/ICAEW, 2003)
Avoiding Audit Pitfalls offers real case studies covering a comprehensive range of challenges and mistakes that any accountant can make during the course of their career. Focusing on everyday mistakes and failures common to auditors in all territories worldwide, the book will cover audit failures that have led to fraud going undetected as well as failure to accurately assess a firm′s ability to continue. This book will appeal not only to general accountants and auditors but also to forensic accountant, and students in the field.