What seems like a century ago, my father arrived home one night with a Nehru jacket. The Nehru was a single-breasted jacket from India that sported a band collar and was often accompanied by a string of beads. It straddled the line between hip and conformity. The problem was that by the time my father bought one, the Nehru had long faded out of style.I learned two things from Pop's sartorial misstep. One was to stick to things that never go out of fashion, like T-shirts and blue jeans, and the other was to jump on something before it has the chance to go out of style.

But let's stick to more profession-centric issues that (hopefully) won't have the fickle shelf-life of fashions, i.e., audit quality and investor confidence. Recently, a new Washington, D.C.-based group, backed by eight of the country's top firms and the American Institute of CPAs, is looking to wield a big stick of influence around the Beltway when it comes to matters of auditing and investor policy.

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