Ann: Pause in Trade, page-84

I'd have to ask the auditors I work with what level of detail they are obliged to go into. My sense is no, they aren't required to go into a lot of detail as that's the whole point of the relief. If the auditors had to go through it in detail it would be costly and at that point you may as well report the findings.

It's also important to remember that Auditors only audit what information they have been given. There is simply too much information for them to go through and in most cases it's not necessary to complete a full and accurate picture. If you go and talk to an Auditor you will find many that are frustrated that they can't be more active in their pursuit of inaccuracies. An inherit conflict exists between the auditor and client, if the auditor is too hard on the client, they will simply walk down the road and find a new one. So there is pressure to retain the clients business.

This conflict I feel is something we will see blow up in the future, much like the Rating Agencies and Investment Banks in 2008.