Instant Access to the Journals you Need

Read Online + Print Articles, for just $40 a month.

Get 2 Weeks Free

Accounting: in crisis or ascendancy?

Accounting: in crisis or ascendancy?

Abstract

Recent corporate failure has challenged the credibility of the accounting profession, leading many stakeholders to question the usefulness of financial reports for decision-making. This paper examines fluctuations in the accounting profession’s authoritative influence over accounting standard setting and financial reporting. It focuses on the period following the collapse of the HIH Group in 2002, with contextual reference to earlier periods. It then outlines the submissions made by the accounting profession, actuaries and regulatory institutions to the Royal Commission Inquiry into the collapse of the HIH Group. These submissions are analysed in relation to the profession promoting functionally defined interests and offering stable compromises, the questioning of the legitimacy of accounting techniques by society and government, and the demand by other constituents that the accounting profession overcome the inequalities that arise from current accounting practice. Finally, the paper offers suggestions as to how the profession can reconstruct itself to regain its lost authority.
Loading next page...
 
/lp/sage/accounting-in-crisis-or-ascendancy-QUnIEOh16m

You're reading a free preview. Subscribe to read or print the entire article.

And millions more from thousands of peer-reviewed journals, for just $40/month.

Get 2 Weeks Free

To be the best researcher, you need access to the best research

  • With DeepDyve, you can stop worrying about how much articles cost, or if it's too much hassle to order — it's all at your fingertips. Your research is important and deserves the top content.
  • Read from thousands of the leading scholarly journals from Springer, Elsevier, Nature, IEEE, Wiley-Blackwell and more.
  • All the latest content is available, no embargo periods.

Stop missing out on the latest updates in your field

  • We’ll send you automatic email updates on the keywords and journals you tell us are most important to you.
  • There is a lot of content out there, so we help you sift through it and stay organized.