Up until a few hours ago when a colleague called me to tell me about this story, I had never heard of Huron. Then I did some research. Huron was a consulting firm started by a group of Anderson partners and employees after the firm’s collapse. Here is the first element of their mission statement from their web site:
OUR MISSION
Value, respect, and serve our people and clients, operating with integrity so as to earn and deserve their trust.
From one article on-line today, “A dose of added irony is that Huron makes its money providing financial and legal consulting services, including forensic-style investigative work, and tries to help clients avoid these types of mistakes.” (wsj.com).
So how is the firm who works with Fortune 500 companies and universities with complex reporting issues like this now having to restate the last three years of financial statements, at the same time replacing their CEO, CFO and CAO?
Another black eye for those of us practicing in public accounting.