And Babbas friends arrogance was screw deloitte let's get some1 else to sign off in a month's time? Who was he planning to pay doesn't matter coz it did not materliaze. And that didn't happen then he resigns? Go figure
but Deloitte has been signing off all these years, and this isn't coming from 2017 Financials, whatever irregularities, they coming way back...Deloitte has been giving their assurance that the AFS were fairly presented in all these years....While I know that Fraud is hidden and not easy for a normal Auditor to pick up, but Due Professional care must be exercised, especially when Bonuses are based on Performance, that's an incentive to overstate profits, and those areas need to be thoroughly audited.....So I would say that, up until the point where Deloitte refused to sign off, Due professional care was not exercised...
My second problem, Who did the investigation that found NO wrongdoing? That company must come and account, because I believe that when investigation is undertaken, then SNH would have hired Forensic team, who are experts in Fraud, CFEs.....Where did they look? Who gave them the scope? Audit Committee would surely be involved in this process of determining the scope, the Board Chairperson as well.....What prompted the investigations? Were the whistle blowers, what did they see? Soo many questions, and definitely MJ isn't alone on this one, he is up there, CEO, Accounting records were manipulated before his level, and collusion is definitely there......
The other unfortunate part is the fact that, the experienced Audit Managers in External Audits only review the findings reported by their TRAINEES/ ARTICLES clerks, who most of the time are scared to implicate senior personnel.....hence a lot of things wont be reported.
