Who was most to blame for the scandal:

(a) company’s external auditors;

(b) the company’s directors;

(c) the company’s accountants; or

(d) the mass media for stirring the whole thing up? Or was it none of these parties?

From mid-2001 onwards the mass media has been full of stories about alleged accounting ‘scandals’. So it is not surprising that the accountancy profession has taken some hard knocks during this period. However, it will perhaps surprise many accountants that their profession appears to be less highly regarded than estate agents and telecom companies.