Do you agree with the proposal of the Competitions and Market Authority in the United Kingdom that the Big Four firms should be split operationally so that audit and nonaudit services are conducted in two separate divisions and profits are split based on each divisions profits? Explain.

What can CPA firms do about the relatively high rate of audit deficiencies identified in PCAOB inspections of firm audits?

Given the discussions in this chapter about conflicts of interest in the performance of professional services and improper relationships with the clients, do you think the accounting profession is trustworthy? Why or why not?