Priorities in the profession

Article Abstract:

A survey of the general public was conducted by Market & Opinion Research International to ascertain the public's views towards auditors and audits. The survey reveals that one of the most important issues facing auditors is the maintenance of its reputation. The survey reveals that two-thirds of the financially aware, classified as those share-owners actively managing their own portfolios, believe that auditors check for fraud, while one-third believe that auditors are guaranteeing a company's financial soundness, and half believe that financial statements state a company's worth. The profession must try to correct the public perception of the auditor's role, and the profession must sublimate arguments over technical accounting issues and focus its attention on educating the public as to the value of auditing services.

Auditing, Surveys, Public opinion, Auditors, Market and Opinion Research International Ltd.

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CCA: Profession Fails in its Duty to Business

Article Abstract:

To give a true and fair view, companies must show in their accounts the effect of inflation. Current purchasing power (CPP) attempts to remove the distortions caused to accounts by inflation. The study concludes that: (1) a true and fair view requires that the impact of the economic circumstances, both general and particular, affecting a a company should be already shown in the main body of the accounts, (2) different methods must be developed to deal with a wide variety of circumstances affecting the substantial number of different sorts of company, and (3) introduction of a general standard requiring companies to recognize the impact of economic circumstances.

Accounting and auditing, Inflation accounting

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The Profession in 1984

Article Abstract:

The number of accountants is growing fast and at a time when new graduates are finding it increasingly hard to find appropriate placing. Student membership of the accountancy bodies is expanding at a staggering rate. Charterd accountancy will attract more graduates than any other form. Membership of the Institute of Chartered Accountants in England and Wales has more than doubled in the last twenty years. It is estimated that by the turn of the century, there will be 40,000 cost and management accountants.

Study and teaching, Accountants

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