New York (Nov. 24, 2003) -- Exhorting auditors to “adopt an attitude of investor protection,” Dr. Douglas Carmichael, chief auditor of the Public Company Accounting Oversight Board, told an audience of CPAs and attorneys that one of the primary goals of financial statement overseers should be to drive audit quality.
“What does the auditor need to do to accomplish that objective?” Carmichael asked attendees rhetorically. “Auditors need better training in fraud detection. The audit-client relationship had serious problems and therefore needed to be changed.”
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