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Article: Auditors in danger of drowning in choppy legal seas.(Business Report)

Article from:
The Star (South Africa)
Article date:
December 4, 2006
Copyright

BYLINE: Linda de Beer

What follows is a "must read" for all business executives.

A document issued by the US Chamber of Commerce earlier this year is titled Auditing: A Profession at Risk.

The audit was traditionally seen as an external review or oversight function to provide confidence to investors on the reliability of financial reporting. However, as a result of the spectacular corporate and audit failures that have occurred over the past few years, there has been continuous - indeed, unrelenting - pressure on auditors to do more.

How much more?

Auditors are subject to much increased legislation and regulation, among many others:

n The ...

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