Shouldn’t auditors go back
to the time when they refused to approve anything considered ‘rubbish’,
asks Emile Woolf
The argument about auditors’ contribution to the 2008
debt crisis is still unresolved, and it will remain so until the central
question of audit scope is addressed. The traditional perception that
auditing has a historic focus merely entrenches its uselessness in
the face of a radically altered commercial environment and risk levels
that demand a fresh approach to the going concern assumption.
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