The Governance Brief: Understanding Government Auditing (Issue 5)
Waldron, Brian | June 2002
Abstract
Recent US corporate collapses, such as Enron and WorldCom, focused world attention on the role and performance of auditors. According to one international authority, the consequence has been “a loss of confidence in financial statements, in the accounting and auditing professions, and capital markets”. Yet he went on to say, “Enron’s financial statements look good by comparison with the financial statements of many, if not most, governments around the world. Such opinions are concerning, especially as many different stakeholders rely upon auditors to provide them with comfort and assurance about financial statements and probity. Misunderstandings persist about auditors, audit institutions, powers of auditors, their accountability, and their processes.
Citation
Waldron, Brian. 2002. The Governance Brief: Understanding Government Auditing (Issue 5). © Asian Development Bank. http://hdl.handle.net/11540/2646. License: CC BY 3.0 IGO.Keywords
Regional Development Finance
Public Scrutiny of City Finances
Non-Bank Financial Institutions
Local Government Finance
Government Financial Institutions
Foreign and Domestic Financing
Financial Risk Management
Assessing Corporate Governance
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