Governance and auditors

People in the IT, are aware of SOA governance, but last few days is for corporate governance . Last few days there is full of activity on governance and its misuse. Satyam is in the limelight for many activities. Many regulating bodies have started into action for control.One thing not clear about to all is, how come so many controlling bodies have failed including famous Pricewater house Coopers. It is something, when one is blind, all go blind. Now I hear, certified fraud examiners are getting into business. What the CAs will do? are they not suppose to do audit appropriately.