(Answered) : Ptl Club Harbinger Things Come Ptl Scandal Picture Perfect Suitable Framing Example Audito Q32082772

PTL Club –The Harbinger of Things to Come? The PTL scandal is apicture-perfect, suitable-for-framing example of how auditors witha modicum of skepticism and alertness could have been heroesinstead of goats. PTL was an accident waiting to happen even beforeTammy got the notion that heading to the mall was the perfect curefor her blues. Auditors who were concerned with doing more than theabsolute bare minimum required by GAAS and GAAP could have exposedthis fraud much earlier, saving innocent and gullible viewers tensof millions of dallors. Art Harris, “The Good Life at PTL: A Litanyof Excess,” The Wahsington Post, May 22, 1987,