Why did accounting firms cease to be truly independent and objective during the 1990s and the early part of the 21st century?

Question

Quizplus · Accepted Answer

Accounting firms ceased to be truly independent and objective during the 1990s and the early part of the 21st century because they also consulted for the same firms they audited. This created a conflict of interest as the accounting firms were in a position to make larger profits from consulting than from auditing, leading to compromised audit quality and independence.

Why Did Accounting Firms Cease to Be Truly Independent and Objective