This paper examines the evolution of the US public accounting industry from providers of audit services to ultimate regulation by a quasi-government agency. During the past 30 years, consolidation within the industry led to the counterintuitive result of increased competition for audit services....

In recent decades nations around the world have experienced financial crisis. In some cases political leaders have contributed to the suddenness and magnitude of the crisis by initially providing overly optimistic assertions concerning the potential benefits of their financial liberalisation...