06-29-2003, 05:43 AM
QUOTE
Accounting Best Practices Survey 98% Receive Inaccurate Cost Information
WASHINGTON, June 27, 2003 â Of the more than 2,000 senior level financial executives who participated in a recent survey, 98 percent said they believe that they receive inaccurate cost information at their companies, with distortion factors such as overhead allocations and shared services. In addition, the respondents indicated a need for improved cost visibility to assist in strategic decision-making activities.
UNQUOTE
Above statement is about US companies... in US... about which our majority believes to be 'Transparent' and 'Honest'.....
NOW how many of us are courageous enough to accept the truth that we receive (or received) inaccurate information while 'Auditing' so many national institutions regarding billions of rupees being written off every now and then???
(Funny part of the above referred survey is that 'E&Y' was one of the active party to conduct that survey... which is already undergoing through prosecution for professional wrong doings.)
Edited by - TheOne on Jun 29 2003 124609 AM
Accounting Best Practices Survey 98% Receive Inaccurate Cost Information
WASHINGTON, June 27, 2003 â Of the more than 2,000 senior level financial executives who participated in a recent survey, 98 percent said they believe that they receive inaccurate cost information at their companies, with distortion factors such as overhead allocations and shared services. In addition, the respondents indicated a need for improved cost visibility to assist in strategic decision-making activities.
UNQUOTE
Above statement is about US companies... in US... about which our majority believes to be 'Transparent' and 'Honest'.....
NOW how many of us are courageous enough to accept the truth that we receive (or received) inaccurate information while 'Auditing' so many national institutions regarding billions of rupees being written off every now and then???
(Funny part of the above referred survey is that 'E&Y' was one of the active party to conduct that survey... which is already undergoing through prosecution for professional wrong doings.)
Edited by - TheOne on Jun 29 2003 124609 AM
