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How to prevent accounting scandals. After several high-profile accounting failures, British regulators are debating how to best rein in the industry’s major firms. And they're considering a drastic step: breaking them up by separating their consulting and auditing businesses. ✦

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  • One puzzle that interested me while editing these stories is why investors don't do more to reform auditing since they're the ones who count on reliable financials. Some advocates propose giving shareholders more power over who a firm hires to audit it. Which raises the question: why don't shareholders demand that already?