"You can't give the average Wall Street CEO really lenient standards of accounting and expect the figures to be good. The accountant is like the referee in soccer. The accountant has to be the adult that prevents the mayhem. Accountants don't want to be the adults because it causes liability, it causes responsibility, it causes difficulty ... they failed us terribly."
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Businesspeople from the United StatesPhilanthropists from the United StatesLawyers from the United StatesPeople from OmahaCalifornia Institute of Technology alumni
Original Language: English
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(quote at 23:30 of 1:59:58)
https://en.wikiquote.org/wiki/Charlie_Munger
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Charlie Munger
Charles Thomas Munger (January 1, 1924 – November 28, 2023) was Vice-Chairman of Berkshire Hathaway Corporation, the diversified investment corporation chaired by investor Warren Buffett.
19 quotes on TrueQuotesView all quotes by Charlie Munger →
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