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Jolter
on April 10, 2023
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EY gets banned from new audit business in Germany
Exactly — the auditor is appointed to represent the interests of the shareholders, not the executives. At least, that’s the way it is supposed to work.
lordnacho
on April 10, 2023
[–]
If some fraud is uncovered, the shareholders will lose a bunch of money. So how does that align incentives?
Jolter
on April 10, 2023
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Presumably, any undiscovered fraud against the company is more expensive to shareholders than the discovered fraud.
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