Thrills in financial accounting
Richard Rahn on Sarbanes-Oxley, Elilott Spitzer, and counter-productive government regulation. I’m glad to see I’m not the only one to dislike Spitzer’s policies and practices. Looks like KPMG will follow in Andersen’s footsteps. Bad news if you work for KPMG, or if you need to hire an accountant, or if you buy stocks which get audited (your costs just went up again). Good news if you’re working for one of the remaining accounting firms (your life just got more exciting, but your income went up again).