Times where accountants made a mistake
Hello, I am a first yr BSA student. And we recently came across the topic about qualitative characteristics—under fundamental QC, faithful representation has neutrality, free from error, and completeness. Though it is stated that the statements must be free from error, our prof specifically mentioned that there will still be errors made by the accountants. Jobs of accountants are really critical and crucial, one mistake could lead to another.
That’s why I am wondering whether what kind of mistakes were made by a co-worker, you, or an accountant you know and what were the consequences. Not to shame anyone, this post is here so that I can learn from the accountant’s experience and possibly not repeat the mistake. If ure not comfy in sharing or ure not in the position to share the story, it’s totally fine~ :)))
Again, this is not asked to shame on anyone TT Maybe through this post, I can measure and further reflect on how critical it is to become one.