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That puts the auditors in a bind.
And it would seem to me that that would put the auditors in a difficult position.
The crucial role played by accounting and auditors in a capitalist sytem needs to be recognised, and legal safeguards put in place to ensure that they play it properly.
The saga cast regulators, bankers and auditors in a desperately unfavourable light for not spotting the fraud much more quickly than they did.Europe's Enron offered a chance for the comprehensive reform of Italy's financial regulation that it so badly needs.
Banking supervisors, who in many countries are legally obliged to call on auditors in a crisis, are not happy about the increased likelihood of conflicts of interest between consulting and auditing.
The minister said at a news conference that talks were continuing with auditors in "a very friendly and constructive climate," and that he expected the team back on Sept. 14 for a second phase once Athens had finalized a draft of the national budget for 2012.
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Libre told the auditors in an e-mail message that it had shut down.
He began with Weyerhaeuser as an auditor in a subsidiary company.
Senator Jeff Sessions, a Republican, defeated the Democrat, Susan Parker, the state auditor, in a landslide.
Duncan let Enron employees intimidate Andersen auditors, such as locking an Andersen auditor in a room until he produced a letter supporting a $270 million tax credit.
One suggestion, backed by International Rivers among others, is to set a fixed rate for audits and to allow the Board to appoint the auditor in a transparent basis.
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