Common Auditor Failures: Overlooking Insolvency Risk and Earnings Manipulations
Auditors are often blamed, and not infrequently sued, by clients and third parties alleging a range of failures in the conduct of annual financial-statement examinations. Despite auditors’ decades of efforts to educate clients, investors, regulators and others about the practical limitations of audits, users of financial reports continue to treat “clean opinions” as guarantees of […]