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美国证券交易委员会和前主席亚瑟莱维特Jr.非常担心会计师事务所违反了审计师独立性规则通过证券交易行为的处理。审核公司现在是拥有双重国籍的公共公司：（1）发布财务报表的审计意见（2）他们为这些公司提供各种咨询。莱维特的解决方案是把审计和咨询。前主席担心公众会失去在金融市场......和整个系统的信心将受到损害。

1999的公共会计收入与营业收入
1976，审计费用约占总收入的70%在任何会计公司的利润。根据公共会计报告，亚特兰大的时事通讯，并保证服务收入审计降至30%和税收服务业务占总收入的19%收入1999。从数学上讲，这意味着管理咨询服务占约51%的总收入是收入在1999的会计师事务所。

Independence Issues & Violations

SEC Concerned with Changes in the Public Accounting Profession
The SEC and the former Chairman Arthur Levitt Jr. were extremely concerned that the public accounting firms were violating the auditors independence rules addressed through the Securities Exchange Acts. Auditing firms now had dual citizenship in public companies: (1) they issued opinions on audited financial statements and (2) they participated in various consulting engagements for those same companies. Levitt's solution was to split auditing and consulting. The former Chairman was concerned that the public would lose confidence in the financial markets …… and the whole system would be jeopardized.

Public Accounting Revenues vs. Consulting Revenues by 1999
By 1976, audit fees accounted for approximately 70% of total revenue earned by any accounting firm in general. According to the Public Accounting Report, an Atlanta newsletter, the auditing and assurance services revenues dropped to 30% and tax services business accounted for 19% of the total revenues earned in 1999. Mathematically speaking, this means management consulting services accounted for approximately 51% of the total revenue being earned in 1999 by public accounting firms.

Fact: According to The Business Journal's Book of Lists, PwC had $75 million in South Florida billings in 1998 to place third among accounting firms.

SEC Auditors’ Independence Rule
The independence rules require that auditors refrain from investing in companies that they audit, to ensure objective, truthful reporting and opinion. The rule applies to all auditors, their relatives, spouses, dependents, non-dependents, and, in some cases, associates must disclose all holdings.

On the September 25, 2002 issue of BusinessWeekOnline.com, the Accounting Wars Powerful auditor-consultants are the target of Arthur Levitt’s crusade articles defined “Independence to mean, CPAs cannot audit their own or their partners' work….…..clear and honest information is dependent on the CPAs independence……an auditor must not have any financial stake in the health, or even survival, of a client company.”

There are those in the profession that believe this rule is archaic and does not hold any value in today’s financial world. Barry Melancon, President and CEO of the American Institute of Certified Public Accountants stated, “The SEC has a right to expect the profession to adhere to the rules; however, the profession has a right to expect the regulatory environment to remain modern.”

Fact: In 1933, when Congress first required public financial reports, lawmakers debated whether audit fees would taint auditors' independence.

PriceWaterhouseCoopers LLP
PriceWaterhouseCoopers LLP is a public accounting firm formed t