Interesting articles on the times that audit firms live in - demise of Anderson, SarBox, etc.
How Audits Must Change - CFO.com: "How Audits Must Change
Auditors face more pressure to find fraud.
Kris Frieswick, CFO Magazine
July 01, 2003
Auditors have been on the defensive since Arthur Andersen LLP was shut down in the wake of the Enron scan-dal. But by this point, with the massive accounting fraud revealed at health-care behemoth HealthSouth Corp., all the remaining Big Four have been tarnished. Today, auditors are fighting a battle on two fronts. On one, they must defend their battered integrity — their very stock in trade. On the other, they are challenged to explain why they should not be expected to find accounting fraud — although they have long maintained that they can't."
How Audits Must Change - CFO.com: "How Audits Must Change
Auditors face more pressure to find fraud.
Kris Frieswick, CFO Magazine
July 01, 2003
Auditors have been on the defensive since Arthur Andersen LLP was shut down in the wake of the Enron scan-dal. But by this point, with the massive accounting fraud revealed at health-care behemoth HealthSouth Corp., all the remaining Big Four have been tarnished. Today, auditors are fighting a battle on two fronts. On one, they must defend their battered integrity — their very stock in trade. On the other, they are challenged to explain why they should not be expected to find accounting fraud — although they have long maintained that they can't."