Home > Uncategorized > Auditors face scrutiny?

Auditors face scrutiny?

A good article from a couple of months back. But has there been any progresss?

http://www.guardian.co.uk/business/2009/oct/25/auditors-role-financial-crisis

We are all aware of the unhealthy relationship that the late unlamented Arthur Anderson group had with Enron, but as we have seen over the past couple of years, little has changed

Audits and auditing will never be the most eye catching of issues and i wonder how many of you have managed to get to this second paragraph, but perhaps that is the very reason that they continually escape public scrutiny? No headlines?

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Categories: Uncategorized
  1. January 11, 2010 at 5:40 pm

    Thanks for the link Clive, good blog. As critical ex statutory company auditor may I add, this is NOT the reason. The real problem is: The audit industry works hand in glove with their “supervisors” – in UK the accounting institutes. They finance the supervisors’ yearly budget! The FRC is in the same glove too – it’s getting tight, right. There is no true supervision, the investigations the public hears about every once a while are nothing but keeping the public quiet.

  2. January 13, 2010 at 4:31 pm

    Hi David

    I agree. I am sure you know more about this than me and it is a controversial topic. One issue that those of us who rely on filed accounts and credit reports have is the qualification of accounts by auditors. Over the years i have vetted hundreds of clients whos accounts have been qualified and many who should have been perhaps. Sometimes saw accounts where qualification seemed very harsh. I could also tell a tale which is related to fees and qualification… But perhaps i shouldnt!

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