Company audits are the first line of defence for investors (any of us saving for a pension) against the management of businesses providing a rose-tinted view of their financial performance.
Those audits failed spectacularly to put up red flags of imminent danger for the big banks which collapsed in 2007 and 2008.
That failure was of course spectacularly expensive for everyone, and not just investors.
See full Article: http://www.bbc.co.uk/news/business-23403382
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