If your instinctive answer is that the government audits the auditors, then who ends up auditing the government?
2006-08-29 15:00:57 · 5 answers · asked by Jose 2 in Business & Finance ➔ Other - Business & Finance
The auditor committee that audit the auditors. And the government set the laws to govern the comittee as well as the auditors...
No one really audit the government, the closest is known as "spying" on the government....
2006-08-29 15:09:27 · answer #1 · answered by shin 3 · 0⤊ 0⤋
The PCAOB (Public Company Accounting Oversight Board) under Sarbanes-Oxley has some jurisdiction over licensing auditors and overseeing public audits. This organization is appointed by the SEC with consultation with the treasury department and the Federal Reserve. Further auditors are typically required to be CPA's (at least the sr auditor or partner is). This is governed by the AICPA and various state boards.
2006-08-29 22:43:12 · answer #2 · answered by MagicalMke 4 · 1⤊ 0⤋
Auditors, lawyers, etc are under a term called SRO (Self Regulatory Organisation)
By virtue of their professions and conduct over the years, they are known to be respectable and are able to conduct their internal affairs in a true and fair view for the benefit of the operating environment and country and therefore are given the seal of respect. (Charter Body) or recogintion by many government as one of the relatory authority.
As such, they conduct their own internal audit.
2006-08-29 22:08:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The Super Auditors---I think Chaney is in charge of those things....assisted by his faithful dog, Rumsfelt.
2006-08-29 22:04:01 · answer #4 · answered by EMAILSKIP 6 · 0⤊ 0⤋
no one...thats why they all get wealthy for many years before anyone gets caught...
2006-08-29 22:03:46 · answer #5 · answered by x-factor 4 · 0⤊ 0⤋