On 1/3/2009 6:51 PM, Ian G wrote:
> It was written:
>> But aren't auditors the eye of the public performing and recording those
>> operations?
> 
> 
> That's one theory.  Here is another:  Who is the client of the auditor? 
>   The auditor has a duty to the client that (arguably) outweighs the 
> duty to anyone else.
> 
> You might not agree to the above characterisation.  But, try this test: 
>   can you draw a line from the auditor to the public?
> 

The line from auditor to the public has been drawn in the courts, where
lawsuits against auditors by investors injured by corporate fraud have
been successful.

-- 
David E. Ross
<http://www.rossde.com/>

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