Florida - Jury: Firm Must Pay $521 Million in Damages Over Bad ...

There are 1 comment on the First Coast News Jacksonville story from Aug 15, 2007, titled Florida - Jury: Firm Must Pay $521 Million in Damages Over Bad .... In it, First Coast News Jacksonville reports that:

A jury Tuesday ordered BDO Seidman, the nation's No. 5 accounting firm, to pay more than $351 million in punitive damages in a negligence case, bringing BDO's potential liability in the case to roughly $521 ...

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Cyril

Singapore, Singapore

#1 Aug 19, 2007
Auditors are not supposed to check everything in the financial reports given by the clients. Auditors' job and duty is limited, and it's irrational to put all the duty to CPA firms for compensation. But on the other hand, such material mistake really reflect one problem of BDO's work. I wonder why they didn't discover the US10 million fake bank receivables. Anyway, I agree the compensation, but not 510 million, it is too considerable.

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