Held in New York City on December 2, 2010, the Fifth Annual Ensuring Integrity in Auditing Conference asked auditors to understand the big picture, and seek a culture of consultation because the public expects it. Co-sponsored by the NASBA Center for the Public Trust and the Baruch College Robert Zicklin Center for Corporate Integrity, the conference featured big name speakers such as Brian Croteau, SEC Office of the Chief Accountant; Martin Baumann, Chief Auditor of the PCAOB; and Darrell Schubert, Chair of the AICPA Auditing Standards Board.
Conference attendees heard and participated in many dynamic discussions during panel sessions addressing topics such as “Preparing for the Perfect Storm,” “Audit Risk Alert,” and “Liability Hot Buttons.” Panelist Robert Schirling of Ernst & Young noted that “…compromising audit quality for fees is like cutting off your nose to spite your face.” However, Mr. Schirling also noted that “…part of his role as an auditor is to drive healthy tension so audits are more efficient and innovative.” Attorney Michael Young, of Wilkie Farr & Gallagher, cautioned that lawyers have noticed that auditors are auditing “by checklist” and by not adding any judgment to their work, they are actually helping lawyers win their cases. Mr. Young also stated that when auditors are consultative, they show their hearts are in the right place and that deprives attorneys of valuable evidence.
- MEMBER CENTER