A Quote by Dilip Shanghvi
A board of directors that cannot produce reliable audited financial statements for almost seven years simply should not remain in office.
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I get audited almost every year.And in a way, I should be complaining. I'm not even complaining. I don't mind it. It's almost become a way of life. I get audited by the IRS. But other people don't.
After watching Taro reach the brink of bankruptcy, seeing their shares delisted from trading, hearing endless false promises about receiving audited financial statements, and witnessing an unchecked drain of company resources, the shareholders have clearly had enough.
I think every responsible public board at every board meeting should be discussing succession. And, of course, Walmart has a very mature board: our chairman Rob Walton and other members. So succession is an ongoing. I think when I first joined the board of directors, it was discussed then. And it's discussed at every board meeting continually.
When you're under audit, you don't give your papers. An audit is - I have been under audit for so many years. Every year, I get audited. For, I think, over 10 years, maybe even 12 years, I have been audited. And I think it's very fair. And I think I'm being singled out.
Russia will honour its international commitments. Our country is a reliable borrower, a reliable creditor and a reliable supplier. Sanctions come and go, but business ties, economic interests and the reputation of a state remain
The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.
Some financial advisers say anyone who may move in less than seven years should not take out a reverse mortgage.
I should see a board of directors who should vote on who I should date.
I have friends that are very wealthy, and I said, do you get audited? They don't even know what I'm talking about. They have never been audited. Why am I audited every single year? And until the audit is completed, obviously, I wouldn't show anything. I will show it as soon as it's completed. I have nothing to hide.
Once in seven years I burn all my sermons; for it is a shame, if I cannot write better sermons now than I did seven years ago.
Lots of entrepreneurs don't want to be hassled by a board of directors early on. The entrepreneurs want to control the company, don't want to be responsible to a board, or don't want to waste time communicating with board members. This is a classic error of thinking about the early stage board incorrectly.
I should mention that I am a member of the board of directors of Dimensional Fund Advisors.
I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.
Just understand, don`t choose - don`t choose even choicelessness. Simply understand the whole situation: that whatsoever you choose, whatsoever you do, will come out of the calculating mind. It cannot be the real thing. Your mind can only produce dreams, it cannot produce the truth. Truth cannot be produced, nobody can produce it. It is there; it has to be seen. Nothing has to be done, just a look is needed - a look without any prejudice, a look without any choice, a look without any distinctions.
If the United States is to produce a nation of investors-as we must if we are to gain financial world-leadership-it is imperative that boards of directors be so constituted as to adequately represent the interests and inspire the complete confidence of investors of moderate substance.
I always say to my people, how come I'm always audited and friends of mine are never audited?
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