Can you think of a specific example of a well-publicized accounting scandal? [If you cannot think of an example, log on to the web and type in the search words UK company accounting scandals.]

From mid-2001 onwards the mass media has been full of stories about alleged accounting ‘scandals’. So it is not surprising that the accountancy profession has taken some hard knocks during this period. However, it will perhaps surprise many accountants that their profession appears to be less highly regarded than estate agents and telecom companies.