Expectations Gap: Jury of Our Peers?

"The primary factor in determining the outcome of the litigation against auditors is the mindset of the jurors that sit in judgment of the facts."
- Kurt Pany The CPA Journal Online (August 1993)

Jury Survey Results

Auditor’s role is that of a public watchdog or guardian, to the extent of expecting the auditor to actively search for the smallest fraud
No systematic relationships between juror responses/expectations and demographic measures

Enron Facts

Arthur Andersen out of business
CEO & CFO indicted after Arthur Andersen was closed
Very few people can name the Law Firms or Investment Banks involved