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What can accountants do to prevent another Bernie-Madoff-Ponzi scheme?

I know that one thing accountants can do is hire an external audit to double check specific documents such as financial statements and etc to ensure that they are properly and truthfully recorded.

But what else can accountants do to prevent another Bernie Madoff-Ponzi scheme?

2 Answers

  • Anonymous
    7 years ago
    Favorite Answer

    They really need to follow the Sarbanes-Oxley Act and make sure that their bosses document and sign off on everything. The board of directions must also be more involved.

  • 7 years ago

    OBAMAcare is the next ponzi sheme, so only time will tell.

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