The days of being a generalist seem to have faded partly due to the complexity of auditing and accounting and also due to the financial regulations that are now imposed on many areas of business. As an example of this I would refer to Forensic Accounting which has been brought about by the complexity of tax avoidance schemes that some companies operate, the need for solicitors to employ this accounting skill in large divorce cases and by the need for the police to have specialist who can help them in large fraud cases. There are now one or two degrees that focus on this area, as much as there are degrees that focus on accounting in banking. With this fragmentation within the profession I wonder of people think that the training for these areas is enough. The advent of SOX following on from Enron etc. meant that people migrated from auditing to earn vast sums of money implementing controls for this. My concern is that the training was brief to say the least and thus have the systems and controls been instituted by fully trained people. As we diversify as a profession is the training good enough?
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