Discuss the issue of commercialism versus professionalism in the accounting profession with respect to thechanges in the rules of conduct described in the case. Do you think these changes are good or bad for theprofession? For the public? Explain.1. What are the threats to compliance with the rules of conduct that arise as a result of the alternative practicestructure in this case? Why are they threats?2. What safeguards might be established to ensure the threats have been eliminated or reduced to acceptablelevels?

What would you do if you were Billy? Consider the following:4. How can you get it done effectively and efficiently?What do you need to say and to whom?What can you expect the pushback to be and how might you counteract any reasons and rationalizations?