scott146

Fannie Mae and Freddie Mac: OFHEO Releases Harsh Judgments

For C-level executives in general, accounting systems are generally at the bottom of the budget priority list every year, all the time. It generally takes a crisis to get funding for upgrades to accounting systems. That is partly why there have been so many earnings restatements.

Then when you add in having to fix sleight of hand accounting to upgrading weak accounting systems, it will take forever to get your company's books in order.