Global Merger and Acquisition deal volumes have reached unprecedented levels. Compared to the already high volume of USD 3 trillion for the whole of 2005, global deal volumes increased by a further 28% in the first three quarters of 2006. No doubt, 2006 will be another record year.

Paul Brunner, Günther Robol and Thomas Rufer have spent most of their professional lives in the consulting business or, more precisely, in the fields of international finance, accounting and auditing. Each has worked in hundreds of companies in all major economies of the world. We had many good reasons to ask them about the future of the auditing profession.

When it comes to the overall concept of auditor independence we can state that separating out the auditing and advisory activities of an auditing firm is the one of the key elements. Yet independence is not only a question of whether someone regards himself as independent for it is equally important that he is seen to be independent in the public eye.