US experts call for tax consulting ban
US professors says accountants should not be allowed to carry out potentially lucrative tax consulting work for clients they also audit.
The accountancy professors Ronald Mano, Matthew Mouritsen and James Swearingen at Weber State University in Utah, argue that tax work requires the accountant to become an advocate for the client.
‘That is not compatible with audit work,’ say the professors in a joint paper for the US accounting magazine CPA journal.
The trio fear accountancy firms could harm the independence of their audit work by offering other consultancy services to the same clients.
‘If we are to survive government intervention and control that has been imposed on us, or perhaps survive at all, it is essential for us to be willing to bit the bullet,’ added the professors.