it ain’t over til the fat man signs. this is an actual panel discussion that was held at a KPMG partner’s meeting the panelists knew they were going to discuss auditor’s legal liability but the discussion was not rehearsed . Michael Moran KPMG partner Richard Greene journalist
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Richard Greene journalist
Dennis Eckart Congressman
Donald Kirk former Chair of FASB
in role of Board Member
Lee Seidler Managing Director
Bear Stearns & Co.
Frederick Wolf Asst Controller of GAO
Theodore Olson attorney
Thomas Jones CFO Citicorp
1/1 Note Receivable 10,000
12/31 Interest Receivable 1,000
Interest Income 1,000
1/1 Investment in 10,000
Fund of Funds Ltd v. Arthur Andersen