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To those who treasure the role of auditors, the humiliation of Andersen is painful.
Ivor Pether, a fund manager at Royal London, said: "The role of auditors has been a weakness in the past that was allowed to continue.
As if to underline that point, the German government said today that it would push new measures to strengthen the role of auditors.
Michel Barnier, European Union internal market commissioner, has also said that the role of auditors needs closer scrutiny, and is expected to publish a green paper on the subject later in the autumn.
The Green report, which harshly criticised the original investigation into HBOS's collapse by the Financial Services Authority, was not commissioned to look into the role of auditors, saying this was up to the FRC.
The commission is due to publish its final report on how to clean up the City in the coming days and is expected to recommend a clampdown on bonuses, a tougher registration system for bankers and to focus on the role of auditors.
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For all five vignettes, the subjects were, on average, 30% more likely to find that the accounting behind the numbers complied with GAAP if they were playing the role of auditor to the firm.
But his argument about an exclusive role of "auditor" for the IMF is very much open to dispute.
In spite of these limitations, the findings of this paper provide new insights into the role of individual auditors both for academics and practitioners and emphasize the importance of regarding individual auditors as an additional party to corporate tax reporting.
First, what about the role of the auditors, both internal and external?
In this case, he said, the charge sheet "clearly" spelled out the role of the auditors.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com