I think @businesspundit is asking all the right questions but unfortunately for him and for all of us @Othelo is right. People always work for whoever is paying them. The auditors who audited Uchumi's results were not really interested in the truth or lack thereof of the figures they were auditing, they were interested in doing a 'good' job so that management is happy with them and they can 'earn' their hefty fee and be retained to earn it in the next financial year.

Believe you me it is all about being retained by a client. Auditors are worse than journalists in the art of kissing ass. They know they are replaceable so they do what they are asked. What would make them really functional would be legislation of laws that would make say CMA powerful enough to impose sanctions or heavy fines in case of misrepresentation or where the person paying is not the one being audited. Can you imagine a scenario where say as a requirement to be listed on the NSE you would have to subject yourself to auditing by the NSE and have auditors who you have no control over look into your books.

Warren Buffets Berkshire Hathaway has no departments, there are no human relations, public relations, investor relations, strategy, acquisitions etc. They however have a very thorough audit function because they do not trust other peoples opinions.....because they know what @Othelo knows, all it takes is a phonecall to make any rotten numbers safi kama pamba.

You'll even be more unsafe.. Forensic auditors are hired by management - the very people whose work you're checking - and take their orders from them... At least auditors are hired by the board.