Every company shall appoint an auditor as required by the Companies Act 2016. As such, the

Companies Act 2016 imposes various duties and obligations on auditors. Additionally,

auditors are granted rights, powers and privileges to empower them to carry out their duties

and obligations effectively since they are considered as watchdogs. Nonetheless, recent spate

of financial irregularities undetected by auditors raises pertinent questions as to whether they

have acted as effective watchdogs. Critically examine their duties and obligations. Include in

your answer the approaches taken in the United Kingdom, Australia, Singapore, New

Zealand or Canada and the reforms to address the shortcomings.