Corporations have their own legal personhood; it’s difficult to see how the corporation’s interest could be served by such a shoddy audit that failed to detect apparently unsophisticated, and certainly massive, raids on the corporate fisc by insiders.
Also, the only known raids on the corporate assets happened post-crash and therefore long post-audit. Under the espoused worldview of the management, everything before that was plausibly ‘good for the company’. In that it benefitted the company in raw EV across all possible worlds with no discount rate for higher gains or for massive losses.
Corporations have their own legal personhood; it’s difficult to see how the corporation’s interest could be served by such a shoddy audit that failed to detect apparently unsophisticated, and certainly massive, raids on the corporate fisc by insiders.
Also, the only known raids on the corporate assets happened post-crash and therefore long post-audit. Under the espoused worldview of the management, everything before that was plausibly ‘good for the company’. In that it benefitted the company in raw EV across all possible worlds with no discount rate for higher gains or for massive losses.
That wasn’t the question. The question was why any company would go to less-than-maximally-trustworthy auditors.