Is it fair that people say "Where Were the Auditors" every time a corporate scandal breaks?
Is it simply human nature and logical reaction to first blame the auditors (external & internal), even before the full facts are known?
I admit that this was my initial reaction when the recent FIFA news broke!
How do we change this blame game?
Is it a matter of managing stakeholders' expectations of auditors and building awareness of the limitation of audit? Or is it that auditors need to do more to ensure surprises do not happen? Or perhaps a combination of the above!
Please share your thoughts!