Auditor Liability and Litigation: FCPA Violations and other Illegal Acts by Issuer Clients
May 22, 2012 at 8:51 am Editor Leave a comment
By Barry Epstein
Published May 21, 2012, JD Supra
In recent years, the Department of Justice (DOJ), along with the Securities and Exchange Commission (SEC), has been aggressively enforcing the provisions of the Foreign Corrupt Practices Act of 1977 (FCPA). The accounting profession has long been divided over its role in detecting illegal acts by clients, and rightly has maintained that auditors, after all, are not trained as detectives. Accordingly, it has traditionally argued that any such responsibilities be tightly constrained, even as the financial statement-using public suffers from an exaggerated view of auditors’ role. Read more
Entry filed under: Opinion. Tags: auditors, DOJ, FCPA, SEC, securities and exchange commission.
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