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The 21st century audit

Scandals, new regs and more complex standards create a new landscape

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For the nation's auditors, the beginning of the 21st century was, unfortunately, defined by mammoth accounting frauds such as Enron, WorldCom, Qwest, Fannie Mae and Freddie Mac, and a searing lack of public confidence in the auditing process in particular and in the profession in general.

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