The October 13, 2010, seminar was led by Edmond J. Safra Lab Fellow Abigail Brown, whose research focuses on institutional corruption in the audit industry. Abigail opened the seminar by describing the social costs of misleading financial statement reporting, and providing an overview of how such misrepresentation or fraud occurs, even in the absence of any illegal act on the part of an auditor. Participants then discussed possible alternative structures for the audit industry, as a way to address the improper dependencies...