It has become common-place for observers of the accounting profession to open speeches by asserting that the profession is in the midst of the greatest crisis in public confidence in its history. That may well be true. However, it is useful to keep in mind that the profession's evolution over the last century has been marked by a series of crises, followed by tougher standards and renewed commitment to the public interest. Research the accounting scandals with the most far-reaching impact on the accounting profession the last 15-20 years. Do you think the Public Company Accounting Oversight Board (PCAOB) will be able to restore public trust in the accounting profession?