Tuesday, April 2, 2013

Glorified Secretaries

Auditors are 'glorified secretaries'

Really, auditors manage the details of the audit engagement. Auditors are generalists. They know a little bit about a lot of things. Jack of all trades, master of none.

The client has a material position in a complicated structured fixed income product? Lets send it to our experts and see what they think.  Oh, they have over-the-counter derivatives?.. Send them off to the experts. The client has complicated and customized IT systems? Call in the IT risk consultants.

Auditors work at such a high level, they really don't learn very much of value.



"Do not lose hold of your dreams or aspirations. For if you do, you may still exist but you have ceased to live."- Henry David Thoreau

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