NOTE: Reference to the terms Code and Standards in this section refers to the CFA Institute Code ofEthicsand/ ortheCFAInstituteStandards ofProfessional Conduct.

Article: Wyatt;Accounting professionalism - They Just Don'tGet It

https://drive.google.com/file/d/1OIygO-imkSI4mQQpFCK1T85rZ2FEi6ue/view?usp=sharing

Q1.

The commentary in the journal article by Wyatt;Accounting professionalism - They Just Don'tGet It,makes some suggestions on how the accounting profession can seek to prevent arecurrence of the recent bad times and how educators may better prepare entrants to theprofession.

Required:

a) Select 2 of these suggestions by the author as to what accounting firms can do to stop arecurrence of the issues discussed.Include the basis for your agreement / disagreementwith these conclusions from the author, consistent with ethical principles included in thetopic, given that almost 20 years has passed since his initial speech that formed themotivationforthearticle.

b) Comment on the criticism by the author regarding the Big 4 accounting firms, whereby hestated that these firms sought to deflect blame on themselves to that of releasedaccounting standards not reflecting reality - that is the blame should be borne by theindustry associations regarding shortcomings in the accounting standards.Do you agreewith the author's dismissal of the Big 4 accounting firms statements in this context?Brieflyjustifyyourconclusions.