Video: Financial Statements of Publicly Traded Companies. How reliable are they? September 3, 2008
Posted by Jeff Nabers in Precious Metals, real estate, Self Directed IRA/401k.Tags: 401k, arthur anderson, audit, auditing, enron, fannie mae, financial statements, freddie mac, gold, hard assets, investing, investment, ira, real assets, real estate, scandal, self directed, Solo 401k, stock market
10 comments
In this brief video clip, listen to CPA/CFP Eric Wikstrom relate his experience from dealing with financial statements from large corporations during his auditing years, including during his employment at Arthur Andersen before it went down with Enron.
Eric very politely touches on the issue of large corporations facing a difficult task in producing accurate financial statements. The unreliability of financial statements expands much further when we also consider the many outright scandals we’ve all seen in the news. Enron, Tyco, WorldCom, and that breed of scandals. Then there’s the Freddie Mac accounting scandal that misreported income several years in a row by up for $4 billion. Fannie Mae had its own debacle where $200 million of losses were shifted in order for top (more…)
Feedburner Subscribe
Jeff Nabers' Self Directed IRA & Solo 401(k) Blog 