I have been doing accounting work for over thirty years and can tell Geoff103, nairobiny, Tim Worstall and others that Prem Sikka is closer to the mark than they care to think. I worked for a big firm and we used to read his articles on auditing and we always knew that he was spot on and had the courage to speak without fear or favour. If the profession listened it would not be in the mess that it is in now. Tougher regulation is inevitable.
That person is right. Prem has a habit of prescient thought - so prescient that people like to ignore it. They do so at their peril.