Tuesday, December 30, 2008

Friehling & Horowitz, CPA's

It wasn't easy, but I obtained a copy of the auditor's report for Bernard L. Madoff Investment Securities (see the December 20th post about SEC form X-17A-5). The form was filed just about a year ago by Friehling and Horowitz, Madoff's accounting firm in New York. Its 16-pages makes for a dense but interesting read.


I'm particularly fond of the section that says:

An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement...

I wonder what tests Friehling and Horowitz actually performed. What evidence was collected? Hopefully, they aren't secret.

If anyone wants a full copy of the document, just drop me a note.



11 comments:

  1. hi....I'm a journalist in the UK doing some work on Madoff and came across your excellent blog. I would really like a copy of this report, so could you email it to me please? And if possible a link to the SEC returns you talk about in the other post. I'd be really grateful.
    My email is terrykirby@hotmail.co.uk

    ReplyDelete
  2. As reported, this audit firm is a only three staffing company and now AICPA is started a preliminary ethics investigation to it.
    As an audit firm, he should keep the record of the audit evidence according to the law. I guess it is just a problem of time before their breach of duty also got well-known.
    And could you give me a copy of the report? My email address is pkujijie@gmail.com.

    ReplyDelete
  3. Good afternoon David,

    I work with a small wealth management firm in the southern U.S. and this Madoff case has become very interesting. Tomorrow (Tuesday) a couple of CPAs and me are going to lunch and I would much appreciate it if you could send me the report. My email is SouthernGemini@lycos.com. Thanks in advance.
    Andrew Valentine Pool

    ReplyDelete
  4. Dear David,

    This is Daniele Pinto, I am a journalist with Columbia Graduate School of Jounralism. You're doing an excellent job with your blog. Like Terry Kirby, I am also working on this story and it would be great if I could have a copy this report as well as a copy or a link to the SEC returns you talk about in the other post.

    My email is dp2421[at]columbia.edu

    Thank you,
    Daniele

    ReplyDelete
  5. David,

    I am an accounting student writing a paper on Madoff and would greatly appreciate a copy of this report. My email is lirpa601@yahoo.com. Thank you.

    April

    ReplyDelete
  6. David,

    I am an accounting student of University of Auckland and currently writing a report on Madoff case. It could be great if you can send me a copy of the report to alphaleung@hotmail.com. Thank you

    S.C.Leung

    ReplyDelete
  7. Hey- I am writing a paper on the Madoff scandal for my Business Ethics course at Simon Fraser University. My email is: msg5@sfu.ca
    If possible please send me a copy.

    ReplyDelete
  8. David,

    If you're still around, can you please send me a copy of the Madoff financials? I've seen the statements of financial condition but not the p&l and cash flow statements.

    Thanks!

    mrspanstreppon-AT-hotmail.you-know-what

    ReplyDelete
  9. Earning money online never been this easy and transparent. You would find great tips on how to make that dream amount every month. So go ahead and click here for more details and open floodgates to your online income. All the best.

    ReplyDelete
  10. Earning money online never been this easy and transparent. You would find great tips on how to make that dream amount every month. So go ahead and click here for more details and open floodgates to your online income. All the best.

    ReplyDelete
  11. Dear David,

    This is Paul Eisenberg, I am Assistant Tax Adviser in Germany and I am very interested in the story of the Madoff's accountants. It would be great if I could send me a copy of this report. My email is: eisencdu@gmx.de

    Thank you very much!

    ReplyDelete