Self-regulation means that a profession has autonomy in the discharge of its services. How have the corporate collapses of the early 2000s affected the self-regulatory regime of the auditing profession?

A. The auditing profession has gained extensive publicity and influence in the stock market.

B. The increased demand for reforms has resulted in the profession losing its self-regulatory power.

C. Auditors have become police for the corporate sector, with their increased role of reporting to ASIC.

D. Auditors are seen to have an important role in corporate management.