This paper was published as a Faculty Working Paper (no. 213B) for the Lubin School of Business, Center for Applied Research, December 2004.

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The American Institute of Certified Public Accountants (AICPA) and the Association to Advance Collegiate Schools of Business (AACSB International) either intentionally or because of shortsightedness or ignorance have diminished the importance of the study of law. By choosing to ignore the news headlines and the illegal and unethical behavior of some executives, these organizations fail to realize the connection between a knowledge of the law and the quality of business leaders. The marginalization of legal studies ill-serves our students. The new computerized CPA Exam is the latest manifestation of this trend.