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Quotes About Accounting Firms

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Quotes About Accounting Firms

“I talked to one accountant, a very nice fellow who I would have been glad to have his family marry into mine. He said, "What these other accounting firms have done is very unethical. The [tax avoidance scheme] works best if its not found out [by the IRS], so we only give it to our best clients, not the rest, so its unlikely to be discovered. So my firm is better than the others." [Laughter] Im not kidding. And he was a perfectly nice man. People just follow the crowd ... Their mind just drifts off in a ghastly way ...”
— Charlie Munger —

“You have various institutions like law firms and accounting firms which bill by the hour. I'm really against that. You have an incentive to go slowly, be there as long as possible, to over-research things and over-staff.”

— Robert Pozen

“Today brands are everything, and all kinds of products and services - from accounting firms to sneaker makers to restaurants - are figuring out how to transcend the narrow boundaries of their categories and become a brand surrounded by a Tommy Hilfiger-like buzz.”

— Tom Peters

“I talked to one accountant, a very nice fellow who I would have been glad to have his family marry into mine. He said, "What these other accounting firms have done is very unethical. The [tax avoidance scheme] works best if it's not found out [by the IRS], so we only give it to our best clients, not the rest, so it's unlikely to be discovered. So my firm is better than the others." [Laughter] I'm not kidding. And he was a perfectly nice man. People just follow the crowd ... Their mind just drifts off in a ghastly way ...”

— Charlie Munger

“Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.”

— Charlie Munger

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