What remains in all circumstances, though, is the need for accountancy practitioners and audit professionals who have the skills to understand the transactions and relationships underlying the financial reports, and who can manage their conflicts of interest to the highest standard of international practice.
(I may add, from my particular vantage point as a prudential supervisor of banks, that we are frequently amazed at the fragility of audited bank accounts under supervisory scrutiny, and at what are often accepted as plausible assumptions.)