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Author Andersen

It's annual general meeting time for the Canadian Imperial Bank of Commerce and I just got my annual report and management circular in the mail and guess what, they expect me to vote for Author Andersen for auditor.

Being an auditor, myself, I can tell you that there is no way in this world I'm voting for auditors that do not have the back bone to stand up for the shareholder who appointed them. If you can't look management in the eyes and say "This asset is over valued and that liability is not recorded." Then you simple have no business doing audits.

To allow Author Andersen to continue to audit large publicly traded companies after Enron will only service to undermine the profession and increase the cost of professional liability insurance.

Surely there are other firms out there with a bit more independence and objectivity that could serve as co-auditors for this bank.

Board Activity

Bye the way, is there anybody out there? If there is could you give me a sign. May be a reply, or a rec or even report this post and get it pulled so that I'll know that I'm not alone.

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