The Spirit of Accounting: The Answer Is in Truth-Telling, Not Detailed or Broad Standards
We are republishing some classic Spirit of Accounting columns while we're extra-busy with a new major project. We selected this one because (alas!) several of its points are just as valid today as they were when it was printed in October 2002 following the spectacular string of accounting and management frauds that brought down one large public company after another and put Big Five firm Andersen in the past tense. Several themes should reverberate with today's readers more than a decade later.
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