accounting ethics
...eatens a firm's independence and thereby the core CPA function -auditing management for outside shareholders and creditors. As evidence, these critics cite rising malpractice insurance rates, and lawsuits claiming $30 billion nationally, with many asserting conflicts of interest. These opponents want to preserve the professions integrity, a key competitive asset in the financial services industry. And they have convinced several state licensing boards, including Connecticut's, to reject the partnership proposal. But the profession's turmoil is not confined to the battle over partners. A study by Patricia Flynn, dean of the Graduate School of Business at Bentley College in Waltham, MA, shows a relative decline since the 1970s in starting salaries, leading many talented undergraduate accounting students to shift to other majors and better-paying fields. Flynn concludes that if accounting firms expect to compete with consulting firms for the best students, they cannot preserve their traditional salary and career path benchmarks.These opponents want to preserve the professions integrity, a key competitive asset in the financial services industry. And they have convinced several state lice...