Auditing
... ：It also has destroyed the reputation of the global accounting giant Andersen, which had failed to spot any irregularities while auditing Enron・s accounts. ... ：There is no systemic failure in this country in financial reporting, auditing or corporate governance.； (reference appendix eleven) This statement shows that the current situation in the UK market of an event like Enron happening over here is not very likely, as the financial reporting, auditing and corporate governance are all at a higher standard than the US. ... ：Enron・s collapse has triggered a loss of confidence in corporate governance, financial reporting and auditing, not just in America, where the problems had arisen, but right around the world including, as we know.