maclean
Registered User
- Jan 4, 2014
- 8,517
- 2,615
For me, a loophole is something that follows the letter of the law while attempting to circumvent the intent of the law and yes, that is also the foundation of accounting as a discipline, doesn't mean I have to like it or morally approve of it, and one part of that is because it favours all those with the resources to take maximum advantage of holes in the system and another part of it is because it forces everyone down to the lowest moral denominator just to be able to keep competing with the former.