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.



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9 comments:

  1. Terry KirbyJanuary 9, 2009 at 3:25 PM

    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. UnknownJanuary 17, 2009 at 2:22 AM

    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. UnknownJanuary 19, 2009 at 2:18 PM

    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. AnonymousFebruary 2, 2009 at 9:09 PM

    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. lirpa601February 21, 2009 at 8:14 AM

    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. UnknownMarch 10, 2009 at 3:49 AM

    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. UnknownMarch 10, 2009 at 10:58 PM

    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. Mrs PanstrepponJuly 14, 2009 at 3:16 PM

    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. PaulMarch 18, 2011 at 9:16 AM

    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

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