In 1991, the Bank of Credit and Commerce International was closed and led a substantial debate over the auditing function in banks. The official report on the closure was more inclined to a direct reporting of auditors to the senior bank management instead of the actual audit process and their reasoning was that information should be accessed by senior experts with the technical knowledge only. It highlighted the expectation gap between how the company sees itself through the lens of their knowledge and how financial auditors are recognized for their expertise in fraud detection.

Social Work

1) In 1992 a voluntary scheme was introduced as a regulation by the name – EC Environmental Management and Audit (EMA) scheme in UK. It was introduced to validate a restricted statement for support in terms of legal compliance, cost management and reworked efficient systems. The contribution of said system was imprecise on how it would empower public sector or public in general. Government however, decided to withdraw it before it was introduced due to the uncertainties which were clearly highlighting the statistics of contaminated land. The transparency of this report could have affected the government plans and therefore was removed from public scrutiny to hide the details that could have landed the government in problems.

2) In child care, the unambiguity with establishing defined standards is still under construction. Therefore, it is natural to focus on efficient cost cutting and basic parameters that are mutual to industrial standard setting instead of narrowing down to an improved rapport between outputs and inputs in terms of productivity.

NHS

England in 2001 introduced an annual ‘star rating’ system for the public health care institutions. As a result, managers in health care were prone to being fired if the results reflected poor performance when measured and were subjected to ‘naming and shaming’ for poor performance (Anonymous 2001).