Believe me, in the real world even Chartered Accountants are regularly, and easily hood winked.

You researched the topic well but the extract you published lacks the benefit of reality.

For instance;- before I started my own business I was general manger for an Australian founded multinational corporation.

Each month I had to submit my area's Profit & Loss Accounts to head Office.

One heading in the accounts to which I initially paid little attention was, H.M.G.

On investigating this mysterious term which fictitiously added an additional $ 200k to $500K onto the overheads.

In reality H.M.G, stood for Hufty Ma Gufty, apparently an Australian version of wil-o'-the wisp.

Never heard of it? Well neither had I until I was informed of its true meaning.

Now multiply upwards of half a million dollars each month by the 20 plus countries in which this company traded, and bearing in mind this was the 1970s and you will see that any corporation's declared financial affairs can be meaningless.

Writing down or inflating the true value of your company's hardware can be a tricky and delicate procedure, but it is done 1000s of times every day.

Then we have a significant section of most of industry's transactions which operate for cash, a large % of which is undeclared and goes into the director's hip pocket, metaphorically speaking.

Paying our just and lawful taxes is for the less well off.

The mega rich only pay what they consider will keep the I.R.S., sweet.

Watch out for any corporation which trades by the name;- F.B. Knlght & Co.