The more I stay in private, the more I realize how much auditors waste time on certain things - like out-of-periods, for example. At the end of the day, unless it rises to the level of a restatement, or affects a measure that investors/analysts care about, these out-of-periods are really just not worth the amount of time spent. Sure it's a requirement, I get it; but there's so much more value that the auditors can add instead of wasting time on these matters. And then they'd have to consult up the chain, and that's a few more people wasting time when everyone knows the ultimate decision is that most of the time, they don't rise to a level of restatement.
Just realized that the very payroll/adp reports we all enjoyed looking at in order to see how much our client contacts made, now seem to piss me off. Especially when your main contact, who couldn't tell a debit from a credit, makes significantly more than you, and leaves at 5. It's almost guaranteed to get you in a foul mood and yak with your team about the ridiculous salaries that certain employees get when compared to yours.
Comments
Thanks for keeping up the blog.
We miss your posts.
Hope you are doing fine.
I discovered this blog before I joined one of the big 4 and have since moved to private.
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