MIT Sloan Management Review

In the wake of the past year's reports of numerous corporate misdeeds, relatively few businesses have thought about making substantive voluntary changes in their ways of working. And, among companies that have made changes, the actions are general rather than specific.

Accounting watchdogs have long warned that providing nonaudit services can compromise an auditor's independence. Now they have some numbers to support their case.

Companies can benefit by auditing how closely they fulfill the aims of their mission statement.

Audit failures rarely result from the deliberate collusion of auditors with clients. Instead, auditors may find it psychologically impossible to remain impartial and objective.