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Last December, the Vatican appointed PricewaterhouseCoopers as its external auditor.
"But could the external auditor do the same thing?
The external auditor will now be required to report any red flags to the I.R.S.
Andersen served as both the internal and external auditor for Enron.
It provides a forum through which the company's external auditor may report to the board".
He also reportedly told investors that MSMB had an independent external auditor, which it didn't.
The department also requires an annual audit of expenditures by an external auditor.
The most egregious conflict, he said, "was the performance of internal audits by the external auditor; he's auditing himself".
Allied Irish Banks will not reappoint PricewaterhouseCoopers as its external auditor at its annual meeting next month, bank officials said.
Ernst & Young said it would stop selling information services to clients and quit being internal accountant and external auditor.
The company's external auditor PwC has refused to sign the accounts because of the lack of clarity.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com