(Answered) : Ptl Club Harbinger Things Come Ptl Scandal Picture Perfect Suitable Framing Example Audito Q32043883

PTL Club –The Harbinger of Things to Come?

The PTL scandal is a picture-perfect, suitable-for-framingexample of how auditors with a modicum of skepticism and alertnesscould have been heroes instead of goats. PTL was an accidentwaiting to happen even before Tammy got the notion that heading tothe mall was the perfect cure for her blues. Auditors who wereconcerned with doing more than the absolute bare minimum requiredby GAAS and GAAP could have exposed this fraud much earlier, savinginnocent and gullible viewers tens of millions of dallors.

Art Harris, “The Good Life at PTL: A Litany of Excess,” TheWahsington Post, May 22, 1987, P.A1

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