{"id":5201,"date":"2009-10-26T22:57:18","date_gmt":"2009-10-26T20:57:18","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=5201"},"modified":"2009-10-26T22:57:18","modified_gmt":"2009-10-26T20:57:18","slug":"auditors-called-to-account","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/10\/26\/auditors-called-to-account\/","title":{"rendered":"Auditors called to account"},"content":{"rendered":"<p><a href=\"http:\/\/www.guardian.co.uk\/business\/2009\/oct\/25\/auditors-role-financial-crisis\">Auditors face being called to account for their role in the global financial crisis | \t\t\t\tBusiness | \t\t\t\tThe Observer <\/a>.<\/p>\n<blockquote><p>For decades, auditors have enjoyed self-regulation. This has led to senior accountants, mainly from PricewaterhouseCoopers and KPMG, assuming rule-making status. Many argue that this apparent conflict of interest has led to auditors skilfully deflecting blame for failing to spot glaring black holes or fraud at a range of institutions from Enron to Madoff and the failed banks.<\/p>\n<p>UK forensic accountant Richard Murphy says: \"The fundamental question is how accountants got away with changing rules of accountancy, which state they don't have to assess the valuation of assets underlying the assets on a balance sheet. How did they get away with changing the audit rules?\"<\/p><\/blockquote>\n<p>The Observer begins to ask the over due question - why have the auditors had a 'good recession' when they so obviously contributed so seriously to the misinformation and opacity that helped cause it.<\/p>\n<p>It's time they were called to account - and made to both pay and reform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Auditors face being called to account for their role in the global financial crisis | Business | The Observer . For decades, auditors have enjoyed<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/10\/26\/auditors-called-to-account\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,81,23,8],"tags":[],"class_list":["post-5201","post","type-post","status-publish","format-standard","hentry","category-accounting","category-auditing","category-kpmg","category-pwc"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/5201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=5201"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/5201\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=5201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=5201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=5201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}