Regulator and audit firm scandal

https://www.pogo.org/investigation/2020/01/how-accountants-took-washingtons-revolving-door-to-a-criminal-extreme/

Fake audit in New Mexico Finance Authority

begets concerns in subsequent treatment.   Internal controls, transparency, objectivity, responsibility of the audit committee are issues to consider.  http://accounting.smartpros.com/standard/IMA/IMA_0812c.html