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As a business, it has become a loss-leader for selling much more lucrative advice, ranging from business-restructuring to legal services.The PwC investigation, which was triggered by a censure of the firm's Florida practice a year ago, found that almost 2,000 individuals, including around half of the firm's 2,700 American partners, held shares in companies that it audited.
And it is hard to trust auditors' independence if they have sold their services as a loss-leader for lucrative advice.In addition, when auditors do make mistakes, the case rarely comes to court.
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The chief executive of About.com, The New York Times Company's lucrative information and advice site, said Wednesday that he would leave the company next week.
Those professionals soon found themselves with a lucrative sideline in investment advice.
A rare ray of light was shed on the lucrative nature of tax advice in a 2004 court of appeal hearing on the divorce of Deloitte tax partner Kenneth McFarlane.
But to compete with Morgan Stanley, Goldman, Merrill Lynch and the like -- all of which excel not only in finance but also in the much more prestigious and lucrative specialties of providing merger advice and offering new stock to the public -- Chase needed to look and act more like them.
Others have created new business models that have provided a lucrative income stream from offering consultancy advice to others.
By his own admission, Carson's remarkable hand-eye coördination allowed him to soar as a surgeon, and he used that success to build a lucrative reputation as a purveyor of advice for young and old.
Some of Giuliani Capital's most lucrative work has been providing financial advice to failing airlines.
But they are humans, too, whose blind spots, egos and potential conflicts of interest — Mr. Greenspan has had a lucrative post-Fed career giving speeches and advice — raise real concerns about hubris, even bias.
Providing conflicted advice is both prevalent and lucrative.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com