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Question - We have experienced corruption from major companies, including Enron, WorldCom, Phar-Mor, the Bernie Madoff Scandal among others. We know from the U.S. perspective, the Sarbanes-Oxley Act was issued in 2002 (i.e., put into law) to help prevent or mitigate such fraud/corruption in the future. But, what has the international community done to prevent corruption? How did they international community respond? And based on their response, did the role of the auditor (external or internal) change as a result and if so, to what degree?

Accounting Basics, Accounting

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