How Independence and Commercialism Can Coexist

Vincent J. Love, CPA/CFF, CFE

This article is an updated and expanded version of one written by this author seven years ago (“Can Professionalism and Commercialism Coexist in CPA Firms? Putting the Public Interest before Increased Profits,” The CPA Journal, February 2015). It focuses on the auditor independence issues that have resulted from the accounting profession's ever-increasing movement into the delivery of consulting and other non-attest services. The continuing acquisition and expansion of consulting practices has intensified the profession's need to evaluate the impact of providing consulting services on the ethical behavior of firms that also provide attest services to the same clients. Two letters by prominent practitioners and my replies, appearing in the March, April, and May 2015 editions of the Journal after my earlier article, explore ways to accomplish the task of providing the client with excellent consulting services while maintaining the independence and integrity required to also provide attest services to that same client.