Recently, a KPMG senior audit partner leaked privileged client information to a "golfing buddy." This is not just another accounting or insider trading scandal. This event is different, and just may be a watershed for investors and the auditing profession. Grumpy Old Accountants provides commentary on contemporary accounting, auditing, and financial reporting issues. It is dedicated to promoting ethical and transparent financial reporting, common sense standard-setting, and effective auditing. Content is provided by Anthony H. Catanach, Jr., who is a Fellow with the Cary M. Maguire Center for Ethics in Financial Services at The American College in Bryn Mawr, Pennsylvania. This video reflects the opinion of the author and not necessarily that of The American College or Villanova University.