Do you think that applying bankruptcy projection models should be a regular tool used by auditors, creditors, and regulators to assess the reasonability of a company's financial statements? 9. Is independence important in corpo- rate governance? What are the most recent rules on corporate governance for public firms? 10. Discuss which changes could be made to the Parmalat's control system and corporate governance structure to miti- gate the risk of accounting and business fraud in future years.
