Ann: Pause in Trade, page-118

Really? I don't think so, maybe many years ago they might have but not these days. Theres plenty of examples worldwide, its got that bad here ASIC wants to give em 2 years for their dodgy work. If you really were an auditor, why would you try and suggest they have high professional standards when its clear they don't or many don't.?

' The corporate regulator will bring its "why not litigate" approach to its policing of audit quality and intends to make use of a new "fault-based criminal offence" that could result in up to two years' imprisonment for registered auditors who fail to carry out their role properly.The Australian Securities and Investments Commission has also repeated its criticism of the audit quality of the big accounting firms and has said this is "a global issue" in its submission to the parliamentary inquiry into audit quality, published on Wednesday. '
https://www.copyright link/companies/professional-services/asic-to-bring-why-not-litigate-approach-to-policing-audit-quality-20191016-p5315x

' The quality of auditing and all of the ways in which the proper conduct of audit might be impaired has come up again thanks to the ongoing inquiry into the regulation of auditing in Australia. '
https://www.copyright link/companies/professional-services/asic-needs-to-harden-up-on-auditor-discipline-20191014-p530km