Within the accounting literature, 'independence' and 'independent verification' are associated more with the mental attitude, associations and practices of auditors than with the independent authentication of what is reported in dated accounts of the financial position and performance of firms. The conventional accounting wisdom confines 'independence' to the mental state of auditors and the nature of their associations with clients and client managers. 'Verification' is commonly interpreted by accountants to depict the customary activities of auditors who may be presumed to be independent in the conventional sense. The conventional accounting notion of independence is, therefore, confined to matters which may only properly be described as psychological and sociological. But, the grounds on which it is invariably supported and propagated, and the objects (whether stated or implied) of the prescriptions in which it is authoritatively embodied, are of a technical kind. They pertain to the demonstration and authentication of technical qualities in accounts. The character and demonstration of these qualities can not be disjoined from the character and function of independent testing. The conventional accounting notion of independence does not cause the Customary activities of auditors to be related to independent testing. The strictures imposed by it, as an 'intellectual groove', have blocked inquisitiveness in respect of the character of both independent testing and independent evidence; and have closed to inquiry the character of the present corpus of accounting rules. The application of these rules, in many instances, causes the products of the private judgments of managers to be included in conventionally prepared accounts. The veracity of the products of such judgments can not be determined or authenticated independently of the person or persons upon whose expectations, intentions or opinions they are based. To the extent that accounting data have the character of 'private knowledge', they can never be said to have been independently authenticated (or audited), irrespective of the integrity, ethics or expertise of auditors.