The accounting profession has taken some very serious hits over the last few years. Much of the criticism is deserved. Some of thtions and recommendations are reasonable and proper and some are not. And there is a serious problem that some of the solutions will be enforced against the entire profession, instead of the areas that have caused the troubles.
The overriding difficulty with the entire situation is that of little understanding, on the part of Congress, the public, regulators and the media, of what the profession is. Therefore, when one tries to assess blame for the travesties of Enron, WorldCom and others, who does one look upon as the culprits?
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