Auditing reform in the EU: emulation of the US experience or a genuine approach?
At the time of American financial scandals with such companies as Enron and WorldCom about three years ago Europeans did not show any signs of worry or incoming trouble. All these atrocities have been regarded as a "purely American" phenomenon. Scandals in Ahold, a Dutch food retailer, and Parmalat, an Italian dairy company, have shown that the problem could be European as well. In fact, the problem of due accountancy and corporate auditing is a universal one.