Li, Sally M.Sally M.Li2017-07-182017-07-182005Shue Yan Academic Journal, Jan 2005, no. 3, pp. 313-335.9628719467http://hdl.handle.net/20.500.11861/4239This study examines the factors that have changed the business environment of the CPA profession. In view of the challenges faced by local CPA firms, we conducted a series of interviews with them to explore how they have evolved to survive in the market. The purpose of these interviews was to investigate the extent of resource constraints faced by them and to discuss any strategic plan for them to steer ahead. Secondly, to explore the type of audit methodology employed by local CPA firms and its significance as a quality control mechanism. The profession is at a crossroads, striving to strike a balance between a monitoring role and a consultative role.enPeer Reviewed Journal Article