John Jimoh, Ijebu-Ode, Ogun State, +23481548229: Sir, to win the war against corruption, the role of the auditor must now be considered. We were told by our trainers, that, accounting and the law tread where even philosophy fears to go. Recent business failures leading to the banking crises of 2008 and 2009, could have been prevented, if auditors lived up to their responsibilities. International Standard on Auditing (31), specifies the auditor’s role in reporting on management’s illegal acts. Also, Section 335 (2) of the Companies and Allied Matters Act 2004, specifies that a company’s financial statement shall give “a true and fair view” and a statement issued to that effect by directors and auditors. Any breach of the legal and regulatory framework applicable to a business entity, that may have a fundamental effect on the operations, and the entity’s ability to trade, must be reported by the auditor. Accounts delivered to the Register of Companies must give a true and fair view. However, the meaning of “true and fair view” has never been effectively put to test at law by charging companies and their auditors for accounts which failed to give a true and fair view contrary to the provisions of CAMA, Section 335 (2). Practising accountants and their clients who ignore the provisions of CAMA 2004, do so at their peril. Moreover, greed and graft have always blinded the alert banker from investigating and verifying bad and dubious accounting, and seeing the warning signs in the financial statement of a company with difficult trading situations which ought to make him to be primarily concerned with the cash flow and liquidity matters of such companies seeking to obtain loans. Unless spectacular exposures are made, the rot will remain with us.