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Auditing Woes

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I need to work on a position Paper regarding auditing woes. I know that the private sector has had several high profile incidents of poor or illicit auditing.

Based on this revelations, is the function of financial auditing ineffective in the public and nonprofit sector?

In recent years, some independent auditors have been identified as co-opted by the client they are auditing. Some of the examples I would like to include is Arthur Anderson and ENRON, as these are the most recent and famous cases. I also understand that Orange County, California, several years ago, lost millions of dollars in poor investments that should have been caught by auditors. The Red Cross and the Rainbow Coalition were also involved in scandals that auditors did not catch or overlooked.

Can we conclude that the function of auditing is ineffective?

I have completed some research, but I need assistance with formatting a Summary/ Statement of Position; relating of issue to workplace or area of interest; defense of Position; discussion of Alternative Positions; and conclusion statement.

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I need to work on a position Paper regarding auditing woes. I know that the private sector has had several high profile incidents of poor or illicit auditing.

Based on this revelations, is the function of financial auditing ineffective in the public and nonprofit sector?

In recent years, some independent auditors have been identified as co-opted by the client they are auditing. Some of the examples I would like to include is Arthur Anderson and ENRON, as these are the most recent and famous cases. I also understand that Orange County, California, several years ago, lost millions of dollars in poor investments that should have been caught by auditors. The Red Cross and the Rainbow Coalition were also involved in scandals that auditors did not catch or overlooked.

Can we conclude that the function of ...

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Hatim Baxamusa, MBA
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  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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