Accountants have had to deal with a lot lately. To name a few: the impact of consolidators, staff shortages, the 150-hour rule, nonCPA minority ownership of accounting firms, full-fledged entry into financial planning both on a commission and fee-paid basis, growth in AICPA membership of industry CPAs, creation of the for-profit CPA2Biz, the Vision Project, AICPA and state societies shared services initiatives, a proposed professional global credential, the unveiling of new assurance services, the Big Five's increased emphasis on consulting, XBRL, the debate over independence rules, and audit failures culminating with the recent Enron bankruptcy.

 

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