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Corporate Scandals

With the recent prevelence of corporate scandals in the United States recently, there have been many efforts made towards reform.

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You have been asked to evaluate the following proposal and debate it with other experts in the field:

Accounting firms should be liable to pay stockholders if they give a company a clean audit and it goes bankrupt within a year.
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https://brainmass.com/business/business-management/corporate-scandals-32288
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I do not agree with this proposal; however, I must describe the basis for my disagreement.

An accounting firm can only be responsible for following established, ethical audit standards and for reporting their …

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