There are couple of brilliant articles posted on the said issue.
Firstly, this blog posting How Lehman Brothers reduced its balance sheet and leverage should be read.
On Naked Capitalism, Yves Smith writes: NY Fed Under Geithner Implicated in Lehman Accounting Fraud Allegation
How?
In fact so much of the big accounting
ReplyDeletefraud happen nowadays are due to most audit firms place large monetary rewards rather than protecting the interest of the minority shareholders !!!!!
The bigger and more well known audit firms the more they are easily corrupted where more people rely on
their competency and integrity.