Independent Audit Blasts Disney For Pulling ‘Bait And Switch’ On Florida: ‘A Mousetrap’

[MillauFr]

Yes, that is how it works. My son used to do audits for one of the Big 4. His firm would be hired by other firms to perform independent audits.

Arthur Andersen was hired by Enron to do an "independent audit" of their books. No one can say those audits were independent with a straight face.

 

[NYCgrrl]

Yes, that is how it works. My son used to do audits for one of the Big 4. His firm would be hired by other firms to perform independent audits.

Otay. You are right. You have always been right anddd I’m sure your son will back you up to the hilt.
Feel better now?

 

[Disneychick13]

Trying to be technical, but I think people are confusing what an independent audit is versus an individual that is independent. An independent audit is simply conducted by people that are “outside“ whatever organization is being audited. They would not be on the payroll for that business or organization. So the people that work directly for the board could not audit themselves (well they could but that would be an internal audit).

Also, keep in mind that the document referenced and linked in this thread IS NOT the audit. The author of the report summarized the findings from the audits (and that author was clearly biased as seen by the interesting choices of wording/narrative). The actual reports from the independent auditors are included in the exhibits (but you won’t read them if you just read the report itself). Just something to be aware of. If anyone is interested (especially those that understand audits ) I would love for you to read those reports and weigh in.

https://www.oversightdistrict.org/meetings/cftod-board-of-supervisors-meeting/

 

[Sweettears]

Yes, that is how it works. My son used to do audits for one of the Big 4. His firm would be hired by other firms to perform independent audits.

I don’t think you understand how this works. There can’t be any conflicts of interest in an independent audit. This clearly isn’t the case here.

 

[Sweettears]

Trying to be technical, but I think people are confusing what an independent audit is versus an individual that is independent. An independent audit is simply conducted by people that are “outside“ whatever organization is being audited. They would not be on the payroll for that business or organization. So the people that work directly for the board could not audit themselves (well they could but that would be an internal audit).

Also, keep in mind that the document referenced and linked in this thread IS NOT the audit. The author of the report summarized the findings from the audits (and that author was clearly biased as seen by the interesting choices of wording/narrative). The actual reports from the independent auditors are included in the exhibits (but you won’t read them if you just read the report itself). Just something to be aware of. If anyone is interested (especially those that understand audits ) I would love for you to read those reports and weigh in.

https://www.oversightdistrict.org/meetings/cftod-board-of-supervisors-meeting/

Again I’ll state that this is a biased report commissioned by the current board and comes no where close to being an audit. Anyone familiar with knowledge of an independent audit will agree

 

[Douglas Dubh]

I don’t think you understand how this works. There can’t be any conflicts of interest in an independent audit. This clearly isn’t the case here.

I think I understand it better than you.

 

[Sweettears]

I think I understand it better than you.

Gotcha. Because ……

 

[Sweettears]

I think I understand it better than you.

Define independent for me since you know more than I do with your audit background

 

[Douglas Dubh]

Define independent for me since you know more than I do with your audit background

https://www.investopedia.com/terms/i/independentauditor.asp

 

[Southernmiss]

Just because a family member is in a profession does not make me knowledgeable about that profession.

 

[Sweettears]

https://www.investopedia.com/terms/i/independentauditor.asp

You obviously don’t comprehend well. The first paragraph of what you quoted eliminates the source of the supposed audit

 

[MillauFr]

https://www.investopedia.com/terms/i/independentauditor.asp

You realize what you posted here confirms that this audit is not independent.

 

[MillauFr]

Trying to be technical, but I think people are confusing what an independent audit is versus an individual that is independent. An independent audit is simply conducted by people that are “outside“ whatever organization is being audited.

Exactly. The phrase is widely misunderstood and misused which make the title of this thread disingenuous.

 

[luv2cheer92]

I think I understand it better than you.

Please, please, please educate yourself and change your info sources before you continue to post nonstop misinformation on literally everything. You would do everybody, including yourself, a huge favor.

 

[Douglas Dubh]

You obviously don’t comprehend well. The first paragraph of what you quoted eliminates the source of the supposed audit

No, it doesn’t. It’s not performed by an employee of the firm so it’s independent.

 

[bcla]

No, it doesn’t. It’s not performed by an employee of the firm so it’s independent.

Yeah, right. This was from a hired gun designed to reach a preordained conclusion.

Independent is something like a court ordered monitor meeting standards for professionalism and fairness.

 

[TippyThomas]

Sometimes it's best to just walk away and stop trying.

 

[Kwami]

Sometimes it's best to just walk away and stop trying.

That's pretty much always true with him.

 

[Douglas Dubh]

That's pretty much always true with him.

If you keep posting things that aren’t true, I’m not going to agree with you.

 

[TippyThomas]

Truth is apparently very much in the eye of the beholder.