Corporate Governance: Principles, Policies and Practices, 3e

9

The Role of Auditors in Corporate Governance

Chapter Outline

• Introduction
• Types of Auditors
• Duties and Responsibilities of Auditors
• View of Various Committees on the Role of Auditors
• Indian Companies Act 2013 and the Role of Auditors
• Corporate Governance and Internal Auditors
• Cost Audit Methodology
• Quality Audit

Introduction

Ethics and values get short shrift in business in two ways; first, by the failure of the management and second, by the failure of auditors. Auditors who are expected to be the watchdogs of the organisation are often bought in by the managements through some profitable assignments. This has led to the rise of the concept of corporate governance which is about promoting corporate fairness, transparency and accountability ...