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Enforced Competition in the Accounting Profession--Does it Make Sense?

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The aim is to analyze the implications of enforced competition in the accounting profession and its alignment with economic principles.
Review of historical advocacy for competitive markets in industries
Examination of political and economic theories related to competition
Analysis of the actions taken by regulatory bodies like the Justice Department and FTC
Increased competition in accounting could lead to lower prices for services
Potential for firms to operate more efficiently on their cost curves
Concerns about the effects of forced competition on service quality and accessibility

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Explores enforced competition's impact on the accounting profession, indicating potential benefits and drawbacks.

Hermanson et al. (1987) studied this question.

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