Auditors: Motivation and Costs
Channel: Bucephalus Research Partnership
Date: 2019-08-13

Shareholders vote to appoint auditors. Unfortunately, this leads many investors to think that auditors work on behalf of shareholders to produce the accounts and check that all is well. This is simply incorrect, but it is why auditors are seen to be doing a bad job. 
The reality is that auditors work for management and do quite a good job. The problem is that there is a conflict of interest that leaves shareholders vulnerable to abuse.

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