ument.Р?Changes in the Market That Affected Auditor Independence Р?Jonathan Weil, in “Behind Ways of Corporate Fraud: A Change in How Auditors Work”(The Wall Street Journal, March 25,2004),suggests that during the 1970s and 1980s the market for audit services and the way in which audits were conducted changed, contributing to a decline in auditor independence. The ponent of change was petition. Prior to the 1970s, the AICPA Code of Conduct prohibited auditors from publicly advertising their services, from making uninvited solicitations to rival firms’ clients, and from participating petitive bidding for audits. Under threats of antitrust action by the federal government, the AICPA pelled to remove these prohibitions petitive practices. As a result, competitive bidding in auditing monplace.
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