Lesson From Yesteryear

BY KENNETH S. MOST

Sixty years ago I was apprenticed to an English auditor. One day my boss asked me to be in his office just before midday, and I was told to sit on a chair away from his desk.

At noon a client, the owner of a large textile manufacturing company and my boss’s fishing buddy, arrived. My employer did not hesitate to tell his friend, “There’s something wrong with these inventory sheets.” Without argument the client accepted the proffered papers and took them away to be corrected. I was then sent back to work, having learned the lesson.

Where can an accounting student today obtain such an education? Can this type of ethical behavior be legislated?

Kenneth S. Most
Professor Emeritus
Florida International University
Lauderdale-by-the-Sea, Florida

SPONSORED QUIZ

How well do you know small business?

There are over 30 million small businesses in the U.S., and many of them are optimistic in their outlook. Are you familiar with the obstacles and opportunities they are facing? Test your small business acumen with this quiz sponsored by Chase Ink®.

SPONSORED REPORT

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.