Critically examine the above statement by analysing the role of the auditor and the role of the board of directors in the preparation of financial statements and the pre- vention of fraud.

Critically examine the above statement by analysing the role of the auditor and the role of the board of directors in the preparation of financial statements and the pre- vention of fraud.

In your answer, you should also examine the actions taken by the regulatory authorities and the government in the UK in response to these scandals.