Conflict of Interest Problems Arising in Personal Financial Planning
Bubbers, Jeffery A.
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The recent addition of Personal Financial Planning as an area in the accounting profession has significantly increased the opportunities available to CPA's. Along with this growth, has come many questions dealing with how this field may negatively affect the accounting profession. One of the purposes of this paper is to define Personal Financial Planning and show how CPAs will fit into this field. The second objective deals with presenting and discussing some of the major problems within Personal Financial Planning. The major concern facing the accounting profession focuses on the CPA's independence issue and it deals with such topics as recommendations and the fee structures used within the Personal Financial Planning market. The majority of this paper is supported by secondary sources. The significance of this work has been to better prepare and inform myself and others on the opportunities and concern surrounding this new field of accounting.