It is a time of change for professional service firms. From audit to tax
and from advertising to specialised consulting, the story is similar. Regulators are proposing bans on what kinds of work these firms may do in order to reduce potential conflicts of interest. And with the media publicising multiple cases of negligence over the last ten years, professional firms have lost some of the prestige they once enjoyed as custodians of business standards and values. As a result, many companies have become wary of the value such firms really can provide.
As though that weren’t enough of a problem, the worldwide economic downturn has made some business leaders much more cautious about spending money on outside help.