Help!!! Need to know recent (2007/08/09) audit fraud cases in US, where integrity of auditors is questioned?

';Role of auditors in detecting and preventing corporate fraud';.





This is the dissertation title. If someone knows more about recent corporate fauds in US where auditors involvement is found.





Similar corporate frauds in other countries are also useful, which can be used for detailed comparison.





I will look forward for your replies.





Sunny1390Help!!! Need to know recent (2007/08/09) audit fraud cases in US, where integrity of auditors is questioned?
As per the Institute of Chartered Accounts in India (ICAI), detecting frauds is not auditor's job and auditor cannot be used as a second line of verifier. Instead the job of the auditor is to check up adherence to the prescribed rules, regulations and directions, both by the company itself as well as the country's regulators. This is done only by test checking and they cannot do 100% verification. This stand is already taken by ICAI in the infamous Satyam case in the recent past. The position in other countries may be slightly different. e.g. Enron affair in US where the audit firm Arthur Anderson was forced to disband. Hence the job of the auditor could be checking up whether the Corporate has a properly documented systems/procedures/processes, whether proper approvals/permissions are in place, whether the persons exercising authority are given the necessary delegation, acts done are not illegal etc.