Bailey (1995) suggests that professional ethics and values are the product of a ‘‘golden age’’ of profes- sionalism that has since passed, and that key ethical standards have not been successfully translated on the workplace to the younger generation. Simply stated, these critics suggest that changes in the context of professional work have made the accounting profession more susceptible to a logic of commercial gain than professional independence and objectivity. In spite of the rhetoric, there are few empirical tests of any of these assertions.