I later learned that the accountant had spent most of his professional life in a car dealer’s warehouse. This narrative is illustrative of how many of our accountants had failed to recognize how fast the auditing profession was evolving and how critically important are their roles in an economic system.
I am more inclined to believe that, today, our accountants are very much aware that there are more differences, indeed very many important differences, than similarities between auditing a corner shop and a financial institution. When a corner shop goes bankrupt for whatever reason, it’s not news.