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Britain has a good claim to be the birthplace of the modern audit profession. Yet...

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Britain has a good claim to be the birthplace of the modern audit profession. Yet more than 150 years after being forged in the heat of the industrial revolution, British auditors are under intense scrutiny after a string of scandals. In 2018, the Financial Reporting Council found that there had been a decline in quality across the "big four" auditors - Deloitte, EY, KPMG and PwC. In recent years auditors have been criticized for failing to spot financial problems at some of the UK's best-known companies. You are required to present a corporate scandal and explain the role of the auditor in this scandal. You can choose any scandal from around the world except Satyam Scandal and Enron. Your answer must be focused on the details regarding failure of audit procedures, professional skepticism and professional judgment. This exercise is for 3 marks and is a group assignment 2-3 girls in a group. If anyone wants to do individually, they are welcome. Submission deadline 5 Oct before 2 pm. Word count: 500 words (+/-10%) (Please stick to word count and take special care for plagiarism)

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