1.   Auditors failed to examine properly the representations by Enron management.

2.   But it is needed more than ever because independent auditors too often fail to act as accounting watchdogs.

3.   Landes acknowledged that taking some of the steps in the proposal would not necessarily have prevented recent, spectacular cases in which auditors failed to detect fraud.

4.   Members of a House Financial Services subcommittee demanded to know how Andersen auditors failed to realize that Enron had falsely inflated profits.

5.   State transportation officials reject the criticism, saying the auditor fails to appreciate the long-term cost savings that will result from the push to open the tunnel.

6.   The commission has formed an expert panel to study why auditors failed to detect some of the recent high-profile financial frauds.