Opinions differ and that's what keeps lawyers in business.
Melvyn Weiss, the leading class action lawyer suing accounting firms for negligence, tells Lee Berton in the current Accounting Today that the Private Securities Litigation Reform Act of 1995 is doing its job of shielding accountants from lawsuits. And Weiss isn't pleased. That's because he feels that auditors are still doing a lousy job of protecting investors from accounting and disclosure frauds. Grotesque business failures are escaping ultimate accountability.