Commentary: Imagine someone wants you to invest in a big company.
“Who's your internal auditor?” you ask.
“Milton was, but he kept reporting embarrassing facts. We fired him. Some allegation of misconduct.”
“Who replaced him?”
“A very experienced lady, two or three years ago, but she took one look and quit within a week.”
“Who replaced her.”
“No one yet.”
“Well who's your risk manager?”