1.28 Independence and reliability

Independence has always been a fundamental aspect of the accountancy profession. A commentary in 2015 suggested the following: public interest view of audit independence must account for the auditors real reason for existence based on what stakeholders want and need: reliable audit services that facilitate financial reporting quality and protect the public interest. public interest view of auditor reliability is shifting toward a revised view of independence.

Required

Based on the extent of accounting crises and corporate collapses, discuss the importance of maintaining independence (and reliability) by an auditor.

What do you think of the above comment?