zzzz best company audit presentation
DESCRIPTION
ZZZZ Best Company Audit PresentationTRANSCRIPT
ZZZZ Best Company
The Beginnings
Barry Minkow starts ZZZZ Best, carpet cleaning company
Financing via Credit Card Forgeries
Meet Tom Paget at GymNew Segment in ZZZZ BEST
George Greenspan
ZZZZ Best goes public in 1986
Full scope audit by George Greenspan for the year ended April 30, 1986
Investment banker informs Barry to fire George Greenspan and hire a Big 8 Accounting Firm
Ernst & Whinney
Predecessor Successor Auditor Communication
Fake Restoration Site
Ernst & Whinney Resign
Downfall
Credit Card Forgery Victim Speaks
Informant contacts Ernst & Whinney via letter
Minkow State Large Profits
Ernst & Whinney late on Form 8k
Aftermath
25 years in federal prison
Minkow Released Early for Good BehaviourBecomes Pastor
2011Back in Prison for Insider Trading
How To Avoid Similar Frauds
Lack of Communication
Limited the Scope of the Audit
Lack of Due Diligence