New York (June 25, 2004) -- With the accounting profession wedged between the crosscurrents of changing standards and burnishing its reputation amidst the ongoing spate of corporate scandals, auditors will use those platforms as a springboard to usher in unbridled demand for their services, according to a noted expert on securities and financial fraud.
“I truly believe we are at the dawn of a new renaissance or a golden age in auditing,” said Michael Young, in a keynote before several hundred auditors at an anti-fraud conference, here. “We will soon be free from the shackles of auditing as a loss leader and commodity. There’s no doubt we are in a momentous period in the history of accounting. Audit fees will go up and they should go up.”
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