Munger Likens Auditor to Doctor Prodding Groin to Treat Nose
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Billionaire Charles Munger, who dismissed Ernst & Young LLP as auditor of his Daily Journal Corp., compared the accounting firm to a misguided physician.
“They were like the doctor who wanted to cure the nosebleed by fishing around in the groin,” Munger, 90, said today at the annual meeting of the publishing company in Los Angeles. Munger, who is best known as Warren Buffett’s partner at Berkshire Hathaway Inc., is also chairman of Daily Journal.