Do you remember who you work for?

An auditor is hired and paid by an accounting firm.  The success of the accounting firm depends on the ability to maintain good working relationships with clients.  A client of an accounting firm wants to have a clean audit report every time their financial statements are audited. 

A clean bill of health gives the client opportunities such as increased shareholder confidence, the ability to borrow money when needed, and an established reputation of being a well run organization.  If an auditor for an accounting firm finds a material problem with a clients financial reporting they have an obligation to disclose that information to the public, and to give the client a qualified or adverse opinion.  A qualified or adverse opinion can be detrimental to a client's future.  It can cause stock price to drop, can decrease revenues and profits for the accounting period if financial reports are misstated, and can be detrimental to the client's ability to continue doing business.  An adverse or qualified opinion can also result in the client firing the audit firm and seeking out another opinion.  As a result auditors are put in situations with conflicting interests which can compromise an auditor's independence.  As an auditor you need to maintain independence no matter what the consequences, and remember who you are really working for.

As an auditor you are working as a public watchdog.  You are conveying to average people the financial health of companies with your audit reports, and assuring the accuracy of companies financial statements.  You are working for the thousands of people who lost their jobs and retirement savings in investments such as WorldCom, Enron, and Bernie Madoff's ponzi scheme. Do not forget that you work for the public, and the public is where your loyalties should lie.