The Hp Board Changes

I desire to brand a comment on the HP Board changes of today. I create non know how the HP Board missed the Autonomy fraud. It puzzles me because 

(a). Autonomy accounts were superficially funky (for event receivables were over double unearned income inward a software firm),

(b). some of the press - peculiarly FTAlphaville (by far the best finance weblog at whatever newspaper) were persistently simply gently skeptical of Autonomy and 

(c). several brusk sellers (most notably Jim Chanos) were all over it.

If I were forced to blame anyone it would receive got been Ken Thomson - the old Wachovia/First Union chairman because Thomson over all other board members he should receive got had the skills to choice upwards the accounting fraud yesteryear noticing the superficially funky accounts. [Not everyone on a board should receive got those accounting skills. Some for event are highly skilled inward some aspects of technology scientific discipline or staff administration or whatever of the other myriad skills a board needs.]

But that is non why I am writing. I am non inward whatever mode john to the board word of Autonomy in addition to I create non sympathise how the fault was made. And it is non for me to speculate really...

I am writing to praise the departing Ray Lane.

Over the years I receive got written to several companies (at to the lowest degree a dozen) to ask/query/complain or speculate nigh funky things inward accounts. The reaction is oft hostile in addition to unremarkably the to a greater extent than hostile in addition to the less transparent the worse the province of affairs is. Sometimes in that place is some smoke in addition to some burn downwardly simply non quite inward the classify I surmised. [This is a work alongside misleading disclosure. When disclosure is misleading you lot tin compass the axe oft accurately surmise things are non correct in addition to non every bit they look in addition to live on totally incorrect when you lot accept a estimate at the underlying reality...]

HP even in addition to thence was by far the most transparent companionship I receive got e'er speculated about. I wrote them a fairly aggressive missive of the alphabet in addition to discussed it a piddling on the blog. 

I was wrong. Flat incorrect inward my speculations. That volition happen.

However the procedure develop inward house yesteryear Ray Lane inward answer to my master copy missive of the alphabet was exemplary. It was transparent, thorough in addition to efficient.

The HP board may receive got got many things incorrect - simply inward my exclusively substantial contact alongside them they were mode improve than many. 

Just saying.

John