The failure of the Enron Corporation in late 2001, apart from signalling the largest corporate bankruptcy in the USA, has also thrown up a myriad of questions about the effectiveness of contemporary accounting, auditing and corporate governance practices. There are strong historical antecedents...

It is argued that auditors whose sole orientation in assisting management is that of classical management thinking will be of only limited help. Auditors need to become aware of all the ramifications of the management role. Only then, it is claimed, will they truly fulfil the brief set for them...