In a speech delivered a couple of days ago at Deloitte’s annual Risk, Regulatory and Public Policy Forum, the chairman of the Financial Reporting Council - Sir Win Bischoff - spoke about corporate culture, the FRC's work in this area, and the role that external auditors can play: see here. In particular, he observed (perhaps a little controversially):Nobody is in a position to develop a better feel for the culture of an organisation than its auditor. I suggest that you are able – more than anyone- to draw the attention of the Chairman or the Board as a whole, or its CEO, to shortcomings and potential failures as you become aware of them. This is not a duty specifically prescribed in any auditing manual, but is a responsibility you may well agree you have towards investors. Perhaps even towards what is broadly considered the broader public interest".
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