The Palestinian Territories has witnessed significant positive upgrades in the accounting and auditing professions over the past few years. The establishment of the PSE and the comparatively large new business enterprises has attracted the big international accounting and auditing firms to the Palestinian market. The upgrade in these essential professions has been “forced” rather than legislated. The PLC is in the process of passing a new “External Auditors Certification Law”, to replace the current outdated Jordanian law. International and American auditing standards and accounting principles are the “norms” in these professions at the present.