Now they've ramped up training in auditing, ethics and fraud during high-priced seminars where executives attend lectures, role-play and exchange experiences.

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Bayou, which filed for bankruptcy in 2006, was also accused of setting up a dummy auditing firm to provide audit reports.

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They have set up a bank-auditing business.

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The big firms argue that every recession throws up a number of corporate failures and tales of auditing mistakes: they simply pay up and wait for the next.

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The restructure also frees up skilled officers for investigation and auditing work.

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Samsung's response will go beyond just asking HEG to shape up, though: it plans to finish auditing all 105 of its exclusive Chinese contractors by the end of September, determine whether inspections of non-exclusive contractors are needed and set up a long-term audit schedule past 2013 that includes tougher requirements.

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Rather than surrendering its best customers to private creditors, the bank wants to price its loans more keenly and make borrowing less cumbersome, using a country's own auditing and procurement methods wherever they are up to scratch.

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Herbalife got a delayed start to trading Tuesday, after the company got caught up in alleged insider trading by the KPMG partner who led the independent auditing of the company.

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The Guardian, whose editor Alan Rushbridger was at the meeting, reported on Wednesday that the editors had not signed up "to seven recommendations that proposed a role for Ofcom or some other statutory body in auditing the work of the regulator".

BBC: Leveson report: Editors 'agree on broad proposals'