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Who's Your Auditor's Boss? The PCAOB mulls whether to give more instruction for the supervision of individual auditors — and could refine the board's approach toward sanctioning audit abuses.

Sarah Johnson, CFO.com | US
February 28, 2008

Whatever happened to self regulation

It saddens me every time I read an article like this about the additional "policing" required in the public accounting profession.

I have been in the profession over 30 years and have read a good deal about it's earlier history. At it's roots, the profession was very much self regulated and the idea of any governmental oversight was viewed as heresy.

What has happened to "Corporate America" and the public accounting profession? That's a very broad topic for sure though I will share my observation that a good deal of the problem rests on an extreme emphasis on profits, share prices and executive compensation in the SEC registered firms.

Please check out my CPA related blog at
http://rf-resources.com/

Posted by robert fligel | Mar 1, 2008 10:29 AM ET