Audit Failures

The purpose of the audit is to provide assurance as to the accuracy of financial statements. Situations such as the Enron collapse, which were largely due to the failure of an auditor to detect fraud, and even concealed it led to significant public unrest and market failure. Discuss articles of audit failures and how they led to public unrest, also, when evaluating the articles referenced, discuss how audit testing should have uncovered audit failures.

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