Taking Responsibility: The Early Demand for Institutional Action to Define an Auditor's Duties

Abstract

The potential conflict between public and private interests in the audit function dates back to the early days of the organized profession. Membership of a professional body was intended to demonstrate not only the competence but also the honour of an individual practitioner. A possible role of a professional accounting association is to protect their members' interests by issuing some form of official pronouncements to guide both suppliers and customers of auditing services. However, for a variety of reasons the accounting bodies during the nineteenth century were reluctant to promulgate standards or guidance, in spite of clear signs of a demand from various quarters, including their own members.