If they used the net current value approach coupled with the obvious administrative savings of using PPS staff to run the FAS, (instead of
private accountants), they would arrive at the far smaller figure of around pounds 3.3bn, paid out over a period of 50 years.'
Throughout my career--private, public, and teaching--I have believed regulators were supposed to help
private accountants and public accountants to make rules that aid comparability but also that help to control fraud.
In turn, law enforcement offers assistance with training public and
private accountants in fraud detection techniques, current crime trends, and frauds to which certain industry segments remain particularly susceptible.
Can they distinguish between public and
private accountants? These are questions of concern for the accounting profession.
