There will be a “creative role” for auditors in the recovery from the financial crisis, according to Yale professor Robert Shiller
Shiller told economia that auditors have to share the blame for the crash, but should not be seen as the ultimate source of the problem.
Shiller has called for more financial innovation to help the global recovery, not less, and says that the “anger towards the financial sector” must be channeled into positive energy.
“Corporate profits have increased a lot at the same time that people are losing their jobs and governments are worried about national debt,” he said.
Shiller is Arthur M. Okun Professor of Economics at Yale, and author of a range of publications and books, including Finance and the Good Society.