Choose Your Auditors Wisely
This personal aphorism of mine actually goes, “Choose your auditors wisely and teach them everything you know,” but that would make for too long of a chapter title. I will address the teaching part at the end of this chapter.
And I say “auditors” in a very broad sense. Millions of small and midsize companies never get their books formally audited, because they have no use for an unqualified opinion.1 Yet practically all corporations engage some sort of public accounting and/or taxation service—for compilations of financial statements from the company's records, reviews, state of business evaluations, preparation of ...
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