From 1991 through 2008 , F & H was the accounting firm retained by BLMIS purportedly to audit BLMIS 's financial statements . Friehling created BLMIS ' certified and purportedly audited financial statements , including balance sheets , statements of income , statements of cash flows and reports on internal control . Friehling falsely certified that he had prepared such statements in accordance with Generally Accepted Auditing Standards ( GAAS ) and in conformity with Generally Accepted Accounting Principles ( GAAP ) . Those financial statements were filed with the SEC and sent to clients of BLMIS . BLMIS paid Friehling approximately $ 12,000 to $ 14,500 per month for his services between 2004 and 2007 .