Accounting scandals have been in the spotlight in recent months. Companies such as Wirecard (ETR: WDI) and Luckin Coffee are two of the more recent high profile cases that have cost investors billions of dollars.
Worryingly, both companies were given a pass from reputable auditors before their respective cases blew up. As investors, we rely on external auditors to give us a sense of the company’s financial well being. But with the latest scandals, can we truly trust an auditor’s stamp of approval?
