Is an Indian CA better than a US CA

You better believe that we are emerging as a big economy . Its time now for us to believe in ourselves. I am telling this to my Fellow Indian CAs and Managemnt professionals .

Over decades , we have been following and believing that the professional ethics and quality set by the USA and their allies are much better than ours.

We have never bothered to question this despite the Enrons and Arthur Anderson episodes.

There is no reason for us to think that our talent is not equally, and in fact more (as proven by now) reliable than those exposed by Enron and Lehman .

What the so called leaders of the profession and "independent watchdogs" like the BIG FOUR doing , say in case of Lehman...please go through this link.

http://www.retheauditors.com/2008/06/lehman-cfos-problem-is-obvious.html

I want your comments ...is indian CA better and more reliable than its US counterpart?

real value of the investments!!

I wonder why people are wondering about the recent collapse in the stock markets and the rush towards insolvency by major players in the money game.
What else was expected?
Lets be honest.All the investor, no matter small or big, expect that there will be someone to buy his investment at a higher price and as the expectations of growth are growing..the prices go up.Rumours and overoptimism help in hastening this price rise.This leads to a spiralling effect and profits of a company are given higher and higher multiplying effect to establish a higher stock price.

I really wonder why should anyone give such a huge multiplier to a company's earning?
It is only a small dividend and a once in a while bonus share that the real investor really earns . The rest of his earning rests s completely upon his luck to find another investor willing to pay a higher price for his investment.

The banks almost went crazy to lend funds hoping to see a further boom in the realty market.
The entire skills of the analysts were concentrated upon justifying their wishful thinking and unjustifiable investment decisions . Their pay packets and their value of ESOPs and bonuses ultimately depended upon the "performance" that they show .Creating and continuing a boom phase, by hook or by crook was irresistible.
I wonder where were the auditors and transparency seekers gone till now .

PLEASE READ MY BOOK "FINANCEFUNDAS.COM" FOR SOME MORE COMMENTS ON THIS.