ROLE OF AUDITORS
The allegation that annual reports presented by companies today lack truthfulness and transparency need not be dealt with in great details here. ‘Window-dressing, manipulation of profit and loss accounts, hedging and fudging of unexplainable expenditures and resorting to continuous upward revaluation of assets to conceal poor performance are malpractices companies resort to with the help of obliging auditing firms.’2
The role of auditors who are expected to certify the veracity of accounts maintained by companies for the benefit of all stakeholders of the company including fair and transparent governance leaves a lot be desired. Instances are galore where obliging auditors have helped companies falsify accounts and in window-dressing ...
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