... auditor independence. So what does the SEC propose? In June 2000, the SEC's proposal would have forced a major restructuring of the accounting profession. The most crippling rule would prohibit accounting firms who perform audits for SEC requirements from providing most non-audit services for the same company and ... and validity of all audited financial statements, but it has also turned many bright and prosperous would-be-accountants away from the profession. What changes need to be made in order to restore not only the public's confidence in audited financial statements but also an .....

• Word Count: 1467
• Approx Pages: 6
• Has Bibliography
• Grade Level: Undergraduate

... the increased link between the companies. There are a number of suggestions that can help independence in general and would have helped in the Enron case. Firstly auditors should rotate; the profession must accept that long-term tenure of audit contracts is not healthy. Familiarity between client and auditor must be discouraged, long-standing links with big clients are especially good examples ... a contributory cause, to any audit failure". He then goes on to say that any further restriction on the provision of non-audit services will lead to a "narrowly focused auditing-only professio...

• Word Count: 1302
• Approx Pages: 5
• Grade Level: Undergraduate

... just one demonstration of how a few unethical issues in a given field can dramatically affect the public's opinion not only of an individual, or sole business, but also of an industry/profession as a whole. Ethics Taught in University Programs All business schools should teach that ethical decision-making is good business. As the economy evolves from industrial to information it brings a swarm ... ...

• Word Count: 1627
• Approx Pages: 7
• Has Bibliography
• Grade Level: Undergraduate