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NEW YORK--The London-based chairman of the international Moores Rowland network of auditing firms believes that CPAs in the United States will lose some their self-regulatory and standards-setting powers to government authorities.
Predicting "more government control" of the profession, Moores Rowland International chairman Charles Maynard said U.S. CPAs had failed to adequately define their roles as auditors, and, in too many cases, to live up to professional standards.
Maynard shared his thoughts in a wide-ranging interview with Accounting Today at the New York offices of M.R Weiser & Co., one of 13 U.S. firms in the international network.
Ken Weiser, former chief partner of M.R. Weiser and now chairman of the network's North American branch, was hosting Maynard as they prepared for a regional network conference in Kansas City.
The 107-firm network, ninth largest in the world with $650 million in combined revenues, refers about $10 million in annual billings among members, up about 25 percent from a year ago. Members pay a straight three percent royalty on new business.
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