'The (ir)responsible auditors'

BookValue
The Essays of Warren Buffett
Lawrence A. Cunningham
( http://www.wiley.com/ )

Posers for auditors

Audit committees should ask four questions of auditors and report the answers to shareholders, says the Oracle of Omaha. “If the auditor were solely responsible for preparation of the company’s financial statements, would they have in any way been prepared differently from the manner selected by management?” reads the first question, as Lawrence A. Cunningham informs in The Essays of Warren Buffett: Lessons for Investors and Managers, t hird edition.

More