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Big 5 Accounting Firm



Unaccountable: How the Accounting Profession Forfeited a Public Trust by Mike Brewster,

Unaccountable: How the Accounting Profession Forfeited a Public Trust by Mike Brewster,
The most recent round of accounting scandals has shaken our economy and tarnished the reputation of a once-respected profession. The inherent conflicts within the flawed U.S. auditing system– where auditors are paid by the companies they audit and financial reports are now viewed as having little more veracity than press releases– have stunned a public that once believed auditors were their eyes and ears inside the country’ s biggest corporations. Now, renewed public interest has prompted the government and investors to once again ask: Where were the auditors? In Unaccountable: How the Accounting Profession Forfeited a Public Trust, former communications director for KPMG and business journalist Mike Brewster explores the fascinating transformation of CPAs from independent voices on behalf of the shareholder to close allies of Corporate America. This vivid snapshot of the twenty-first-century accounting firm clearly examines the implications of this shift for investors, the industry, and the overall economy. Brewster’ s exploration of the key issues facingaccounting traces the profession from its birth in the Middle East, to its rise as one of the most universally respected in the Western world, to the calamitous scandals of the past two years, to the fall of Andersen and passage of the Sarbanes-Oxley law. Shaped by the author’ s own experiences in the industry, primary research of accounting documents going back hundreds of years, and exclusive interviews with the Big 5’ s major players, advocates, and detractors, Unaccountable questions the practices of the nation’ s leading accounting firms, including . . .



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