blaming the auditors

Grant Thornton U.K. Given Seven-Figure Fine For Totally Blowing Ethics and Independence Rules

In hockey if you get penalized for misconduct, you spend the next 10 minutes in the penalty box and feel shame. In auditing if you get penalized for misconduct, you pay some slap-on-the-wrist fine from a regulator, vow to be better next time, and go on your merry way. The Queen’s Grant Thornton is the […]

KPMG Exec: If the Public Knew How the Audit Sausage Was Made, They’d Appreciate the Taste a Little More

"I can understand why the public at large might feel let down. In hindsight, it is tempting to wonder why auditors were not more alert to a possible financial crisis. If the diligence and expertise that underpin audit reports were more visible, public views of the profession would be far more favorable." – Isabelle Allen, […]