ABSTRACT
The fiduciary role of the auditor is the basic reason for many professional rules and standards - some of which were initiated by national voluntary organizations while others were regulated by governmental or semi-governmental institutions such as the Securities and Exchange Commission in the United States. (For the history of the profession see, for example: Jones, 1981; Richards, 1981; Winsbury, 1977; Margerion, 1980.) By the end of the 1980s, both the United States and the United Kingdom had lifted the longtime ban on soliciting or advertising for business. Since then, there have been many profound changes. 'Today', according to Gerard Hanlon (1994, p. 150), 'the emphasis is very firmly on being commercial and on performing a service for the customer rather than being public spirited on behalf of either the public or the state.'
