The need for such a service exists and if the profession does not fulfill that need, other agencies which can provide this service will displace auditors and deprive them of a potentially expanding opportunity. Independence 21. Let me now turn to the challenge of “independence”.
The growth of large international firms of accountants has created an opportunity for the provision of a multiplicity of services. Clients benefit from such umbrella services and attach value to it. However, this also raises the vexed question of the extent to which provision of these multiple services erodes the concept of independence. 22.