Auditing is Mostly Meaningless

Our goal is to provide an 'opinion' that we are 'reasonably assured' that there are no 'material' misstatements in the financial statements as of 3 months ago. Doesn't that just fill you with pride and meaning?

'Real' businesses need capital to produce their goods, and in order to get the capital, investors need to make investment decisions based on accurate information. In order to get the information, the businesses need accounting systems. In order to reasonably assure materially accurate accounting information, you usually need auditors...Whenever your job is the 3rd derivative of the actual value-added process, you know its a shit job.

http://howshouldweaccountforme.tumblr.com/post/45131530688/when-anyone-asks-you-if-youre-satisfied-with-your-job