Introduction to Managerial

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Issue:

Miscellaneous

 

Written by:

Laurie G

 

Date added:

April 7, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

17 / 4622

 

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9039 times

 

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The successful plaintiffs contended that Gregory Finerty, the Coopers and Lybrand partner in charge of the Phar-Mor audit, was "hungry for business because he had been passed over for additional profit-sharing in 1988 for failing to sell enough of the firm's services" (Pittsburgh Post-Gazette, February 15, 1996)...
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In 1989, Finerty began selling services to relatives and associates of Phar- Mor's president and CEO (who has been sentenced to prison and fined for his part in the fraud). Critics claim Finerty may have become too close to client management to maintain the professional skepticism necessary for the conduct of an independent audit...
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