By Jeffrey Ong-Siong The storms caused by the ongoing accounting scandals have left a wide path of damage in their wakes.

One of the largest casualties has been the accounting profession’s reputation — traditionally our largest asset. If you want to get us where it hurts, our reputation is a good place to start. Our national and professional organization, the American Institute of CPAs, knew it had a monumental problem that needed to be fixed. The unfavorable alternative would most likely be a “quick fix” of the problem by those who do not really understand our industry.

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