Self-regulation and regulation are cornerstones to sound accounting and taxation practices which includes members' professional development. So how could the recent PWC Taxation Scandal occur and what can be done to ‘stop the rot’? Should self-regulation and/or the current regulation be abolished, but what could effectively take their place ? Discuss.

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The recent PWC Taxation Scandal points to a breakdown in both selfregulation and external oversight It occurred due to a failure in compliance with et... View the full answer