The American Institute of Certified Public Accountants has proposed new ethics guidance for CPA Firms that are members of networks that seek to extend their capabilities. Essentially, the proposal says that firms that are members of such networks must still maintain their independence of certain attest clients and other network firms.
Why is this an issue? These networks are growing and having a bigger impact on the marketplace. We at Maddox Ungar Silberstein, PLLC have taken note of that and are proud members of msi, a London based network of legal and accounting firms.
On the surface, this ethics guidance sounds like a good idea. I reserve the right to study this one further.