Sunday, October 4, 2009

Mea culpa

"As with all generalizations
it may be both exaggerated and unfair"
Pablo Triana

Anytime one hints at a generalization, they're bound to offend one or more individuals. In my "Letter from the Publisher" in the current issue of The Journal of Performance Measurement(R), as well as once or twice in my blog, I've touched on how accounting firms have occasionally let us down in their oversight of client financials. By no means was this intended as a generalization...if anything, most of the time accounting firms do what is expected of them; just as we'd expect that most of the time the rating agencies perform in a proper manner. It's those "tail events" that get most of the attention. Recognizing this, I should avoid any hint that these problems are any bigger than they are. Granted, when they hit they get a lot of attention.

Just as with the scandals involving the Catholic Church a few years ago, most priests are far from being pedophiles; unfortunately, that didn't stop some folks from offending quite innocent priests with their insensitive remarks. My remarks, too, may at times be insensitive, and for this I offer an apology.

1 comment:

  1. There will never be rules that are prefect. Someone is bound to find loop holds in the languages that prevent or help them to achieve their own desires or goals. Thus, without true comments from independent viewers / outsiders, our society will never be able to move to the next level of prosperity.

    On the other hand, we should strongly defend our own opinions but at the same time accept our criticisms. Use this moment to remind ourselves that we are not prefect (even for professionals). The truth HURTS!! If given a second chance, admitting our unintended mistakes and taking actions to prevent this from happening again, in my mind, is sweeter and rewarding.


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