The accounting profession globally has gone through image/reputation crisis over the past three decades.
Globalisation presents many challenges to the accounting profession in ensuring global accounting standards,
certification and ethics in the accounting profession (Ball, 2006; Chakrabarty, 2011). Apart from that, corporate
scandals that occurred with global companies in the US and Europe such as Enron, Stanford International Bank,
Satyam Computer Services, WorldCom, Parmalatas well as other local companies have posed a big challenge to
the accounting profession’s integrity, professional conducts and responsibility to the public.