1) Today a very high percentage of publicly traded companies are audited by only four
very large public accounting firms. These firms also do a high percentage of the consulting
work that is done for publicly traded companies. How does this fact complicate
the decision regarding whether CPAs should be allowed to invest in companies
audited by their firm?
The complication arises from the conflict of interest between the CPA as an auditor/consultant and the CPA as an investor. As an investor the aim of the ...
The solution expresses its opinion on should CPAs be allowed to invest in companies they audit