FOR a long time, many auditors feel that their profession has been subjected to more scrutiny and blame than any other. The establishment of the Audit Oversight Board in April last year does nothing to ease that perception, but it may eventually improve how others view the auditors' credibility and the quality of their work. Meanwhile, it's time to shift the attention to those who reside at the periphery of the corporate governance ecosystem. The Securities Commission (SC) has a label for them the gatekeepers and influencers.
The regulator has used the term “gatekeepers” several times before, but it's in the Corporate Governance Blueprint 2011, released last month, that the SC first talked at length about the role of gatekeepers and influencers. In fact, there's an entire chapter on this subject. Finally, the auditors can start to believe that soon they won't be the only professionals to be singled out whenever there's a corporate governance failure.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
