“…Accordingly, the efforts of the profession alone to respond to various corporate failures, and more recently the global financial crises, are not enough (Carcello et al, 2011;Bayou et al, 2011;Cagnin et al, 2011;Odendaal and De Jager, 2008;Riotto, 2008;Unerman and O'Dwyer, 2004).. Delegitimized structures are, therefore, 'quarantined' and monitors put in place by independent regulators to prevent subsequent failures (Suchman, 1995). The promulgation of SOX, with mandatory audit quality provisions (Riotto, 2008;Sy and Tinker, 2008;Bronson et al, 2011;Cullinan et al, 2012); formation of the PCAOB (Mosso, 2003;Kaplan and Williams, 2012), revocation of Author Anderson's license (Unerman and O'Dwyer, 2004); and calls for separation of non-assurance practice from existing audit firms (Wines, 2012;Bazerman and Moore, 2011;European Commission, 2010) serve as examples.…”