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    Accounts Making Sure That Companies Stay Honest 'Post Enron'

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    Regardless of how the public perceives the accounting profession as a whole, a recent study suggests that there continues to be a significant disconnect between the perceived responsibility accountants have to their clients and third parties, and their actual responsibilities.

    The study, Public Perceptions in a 'Post Enron' World by Camico Mutual Insurance Co. Report (2004), included the following question:

    Accountants are responsible for making sure that companies stay honest:

    Pre Enron Post Enron
    Agree 34% 61%
    Neither 25% 10%
    Disagree 39% 29%

    How does this new perception impact the auditor's job?

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    Solution Preview

    Given the change in perception as to the responsibility of accountants and auditors in ensuring that companies stay honest, ...

    Solution Summary

    The solution discusses whether accountants are responsible for making sure that companies are honest 'Post Enron.'