Stopping the buck
The collapse of Enron has emphasised just how unclear the law is on the role played by auditors in reporting corporate fraud. But, argues Matthew Saunders, it is not litigation that poses the greatest threat to accountancy firms, but tougher regulation
In his recent state of the union address, George W Bush called for “stricter accounting standards and tougher disclosure requirements” with a view to ensuring that US companies were “more accountable to employees and shareholders and held to the highest standards of conduct”.
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