Accounting firms don’t live on audits alone. Virtually all accounting firms perform some sort of consulting or advisory services (such as tax-related work) in addition to carrying out the audit function. When these advisory services are rendered, the question of independence emerges. Can an audit firm objectively examine financial statements prepared by management while relying upon management to renew a lucrative consulting contract? This is an ongoing dilemma that Sarbanes-Oxley [SOX] attempts to address. The auditor independence provisions of SOX [...]