Auditors, Lawyers and the Lack of “Independence” — Bias and Financial Incentives

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Michael Volkov identifies areas of business activity where objectivity is important, but often ignored or discounted. With financial auditors “there is an inherent conflict in the client-auditor relationship,” Volkov notes, particularly with auditors who have multi-year relationships with large clients. Similarly, “independent” investigations begun by companies in response to potential misconduct or a government investigation […]
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