Most of the auditor litigation related to the 2008 financial crisis resulted in settlements. Why do you think most audit firms settled rather than going to trial? - The case involving PwC and Taylor Bean was one of the few cases that actually went to trial. Why do you think PwC initially decided to go to trial? Why do you think the firm settled halfway through the trial? The trustee that sued PwC alleged that they were negligent in failing to uncover the fraud. To what extent should auditors be held responsible for failing to detect fraud? Does it matter that PwC was Colonial Bank's auditor, and not the auditor for Taylor Bean?