Howard Schilit Accounting Quotations

When a company announces an accounting restatement you ask no questions. You sell immediately. You don't have to wait to see how much worse it's going to get. It's not going to get better.

Under the old world order, senior executives of companies that were most aggressive were the ones that won most often, ... We have to be able to convince the senior executives at companies that the world has changed and that under the new rules you are going to consistently lose if you are using accounting tricks.