July 15, 2002
The Art of Economy
Seems like trust the good old fashion way is becoming just that - old fashion. Why should profit/loss statements become red when it is so easy to make them look so good. When it increases your personal bonus, and make your stock options skyrocket in one act of art, who would choose not to.
Also note that there are way too many depressed people in the world today. One way to make people happy would be to let them see that their portfolio is doing good. So maybe economy and accounting isn't art, but rather medicine? Like in 'fix the profit/loss statement to cure depression?' The only adverse effect being that it all becomes so much worse when the cash runs out and there is no place to hide...
Say, what if those auditors just went back doing what they used to do, and left the consulting part of the business over to someone else...
Todays motto: 'Andersen - a lasting name'
(Seen as a board-ad at Copenhagen Airport in January.)