I have a post at my other blog, Attestation Update, describing a speech by the former CFO of Enron that says all of the bad transactions that sent him to jail were approved by the attorneys, approved by the auditors, and approved by the board.
Yet Enron is the poster child for corporate fraud. A bunch of people went to jail for transactions that were fully reviewed and approved.
Here is the question that should unsettle all of us: