Auditors in a changing regulatory environment

The purpose of this paper is to describe how corporate responsibility, at the best of times, is taken for granted, and at the worst of times, becomes a much maligned concept.

Describes how the regulatory landscape is rapidly changing and outlines several conditions that must exist or be achieved to ensure the stability of financial institutions through a better system of regulation and monitoring and rapid intervention, where intervention is called for.

There is a need for greater clarity as to the role of auditors and as to the expectations of regulators.

Highlights how, for regulators, auditors and stakeholders, the issue of the role of auditors in a changing regulatory climate is an important subject that deserves special consideration.