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Keywords

systemic failure, corporate governance, corporate audit committees, Sarbanes-Oxley, hard-core fraud, financial disclosure accountability, self-regulatory organizations (SROs), accounting expertise, blue-ribbon committee, ultimate responsibility, direct responsibility, Enron, WorldCom, independent directors, consulting services, non-audit fees, failure of professional self-regulation, regulatory and legal checks, gatekeeping role, increased director accountability, investor confidence, transparency, periodic reporting, faster disclosure, accurate, Model Rules, confidentiality, aiding and abetting liability

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