THE RETHINKING OF THE STRUCTURE OF ACCOUNTING AND AUDITING CONVERGENCE BETWEEN NATIONAL ACCOUNTING STANDARDS AND IFRS THE RETHINKING OF THE STRUCTURE OF ACCOUNTING AND AUDITING ABSTRACT INTRODUCTION CORPORATE GOVERNANCE IN THE UNITED STATES ACCOUNTING RULES AUDITING Mandatory Audit Independence of Auditors Competition Versus Independence Pursuit of Competition A New Business for Audit Firms Liabilities Eat the Profits A Political Strategy SEC’s Missed Diagnosis TIME FOR RETHINKING END NOTES REFERENCES CONVERGENCE BETWEEN NATIONAL ACCOUNTING STANDARDS AND IFRS : Results of Large Accounting Firms’ Survey of Asian Countries ABSTRACT INTRODUCTION BACKGROUND: THE 2000 AND 2001 SURVEY THE GAP BETWEEN ASIAN NATIONAL STANDARD AND INTERNATIONAL STANDARDS THE 2002 SURVEY Introduction Convergence Strategies in Asia Obstacles to Convergence ANALYSIS OF SURVEY RESULTS CONCLUSION REFERENCES