We’re not the only ones

Many readers will know that Richard Murphy, Francince McKenna and myself are sharp critics of the profession for one reason or another. Today I stumbled upon Michael Ramos who writes the EyeShade blog. One post entitled: Is the accounting profession like GM (with the implied bankruptcies that might lead to) caught my eye:

I’ve been working with a lookback at the implementation of the risk assessment standards and I’ve been very disappointed in how the profession as a whole has responded and those with the power to improve auditing have been relatively ineffective and shown so little leadership. It hasn’t been the model I imagined when I first wrote the risk assessment audit guide 3 years ago.

As someone who’s been in the profession for over 25 years, I think about what kind of profession we’re leaving for the next generation.  Is it better than the one I inherited from my dad?  I don’t think so, and that’s a real disappointment.

As the title of my blog post says: we’re not the only ones. Despite Michael’s sombre view I am hopeful. Yes there are large icebergs ahead but I still believe there is a place for the profession – but – it will have to be radically restructured and regulated for that to happen.

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Tagged as: Audit, General Motors, GM, Michael Ramos, Risk assessment