[Loyal Buckeye]

KPMG warned of ‘death spiral’ in tax shelter fraud case maybe these giant accounting firms should be downsized and broken up....with all the tax laws....all the workers will still have jobs...but might have to be more honest if not shielded behind the corporate shields!!!

It would be very difficult to break up the larger firms; they are international in scope and are needed to serve the huge multi-national companies. I wouldn't say it can't be done, but it would be very difficult.

Also, individuals working at the accounting firms do not have a corporate shield, per se. Each is responsible for his or her actions and can be held liable. Each, is, however, shielded from the actions of others within the firm and creditors.

Honesty, I agree, should be a given.

[Loyal Buckeye]

One additional thought.

I think we are nearing the point where auditors for individual public companies will be selected by the government (SEC) and rotated every 5 years or so.