7-days of FREE Audio papers, translation & more with Prime
7-days of FREE Prime access
7-days of FREE Audio papers, translation & more with Prime
7-days of FREE Prime access
https://doi.org/10.2308/0148-4184.23.2.69
Copy DOIJournal: Accounting Historians Journal | Publication Date: Dec 1, 1996 |
Citations: 9 |
In the decade following the passage of the Federal Securities Laws of 1933 and 1934, the reform of accounting and auditing practices directed authority for selection of accounting principles and auditing procedures away from the discretion of the individual accountant and auditor. Instead, a self-regulatory peer driven process to establish general acceptance for a more limited set of principles and procedures was being initiated. Two events which occurred in 1938 indelibly affected this process, the SEC's decision to issue Accounting Series Release No. 4, which empowered non-governmental entities as potential sources of authoritative support, and the McKesson & Robbins fraud which called into question the value of the independent audit and the role of external auditing at the very time a momentum had been established for self-regulation by the nascent and recently reunified accounting profession. The contributions of Samuel J. Broad in both the initiatives for self-regulation of accounting principles and of auditing procedures is examined in this paper. Further, several examples of Broad's rhetorical technique of employing analogous reasoning to facilitate dissemination of complex economic and accounting issues are examined.
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.