Then what other jobs can these people take, that will give them what they made before. Granted, the ones with MBA's are not going to have a problem, but there will be problems with those who don't have the MBA.
South Carolina once uprooted a very profitable industry by judicial fiat, the result of this, it put my cousin (and me, because I had lent him the start up money, and as such, took a cut) out of business. It also put alot of South Carolinians out of jobs. There were many retail establishments who had entirely relied on these products in order to stay in business.
Now, this doesn't exactly apply to accounting, but the point is, eliminating it in one fell swoop gave South Carolina the economic shock it did not need, and contributed to the unemployment problems they've had in this decade.
If you are going to eliminate an industry, you have to do it gradually so that people in the industry have enough time to make preparations, so when the industry is gone, all the former people in it haven't lost anything.
You have to allow for a transition period.
How many decades do you think we should have subsidized making buggy whips after the advent of the automobile?