Book review Unaccountable: how the accounting profession forfeited a public trust Mike Brewster John Wiley & Sons, Hoboken, New Jersey 2003, 328 pages In the corporate world, the past three years or so have witnessed the emergence of a strong international focus on corporate governance. The several drivers of this concentration include the following: (1) certain dramatic corporate collapses in the US, such as Enron and WorldCom, and in other countries, such as HIH in Australia; (2) audit failure, most notably resulting in the demise of Arthur Andersen, and (3) the frequent reporting in the press, especially in the US, of instances of accounting irregularities found by corporate regulators, most notably by the US Securities and Exchange Commission (SEC). The accounting profession was indeed heavily implicated in the corporate and audit scandals of the early 2000s. In the aftermath of upheaval, professional accountants are striving to deal effectively with an ever-growing mix of new rules on corporate governance, audit independence and financial reporting, among other prescriptions. The accounting profession, in effect, is being driven into a "compliance" era which, hopefully for the profession itself, will not result in it being described as presently in a twilight zone by
Book review: Unaccountable: how the accounting profession forfeited a public trust
Abstract
Book review Unaccountable: how the accounting profession forfeited a public trust Mike Brewster John Wiley & Sons, Hoboken, New Jersey 2003, 328 pages In the corporate world, the past three years or so have witnessed the emergence of a strong international focus on corporate governance. The several drivers of this concentration include the following: (1) certain dramatic corporate collapses in the US, such as Enron and WorldCom, and in other countries, such as HIH in Australia; (2) audit failure, most notably resulting in the demise of Arthur Andersen, and (3) the frequent reporting in the press, especially in the US, of instances of accounting irregularities found by corporate regulators, most notably by the US Securities and Exchange Commission (SEC). The accounting profession was indeed heavily implicated in the corporate and audit scandals of the early 2000s. In the aftermath of upheaval, professional accountants are striving to deal effectively with an ever-growing mix of new rules on corporate governance, audit independence and financial reporting, among other prescriptions. The accounting profession, in effect, is being driven into a "compliance" era which, hopefully for the profession itself, will not result in it being described as presently in a twilight zone byPreview Only. This article cannot be rented because we do not currently have permission from the publisher.
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Book review: Unaccountable: how the accounting profession forfeited a public trust
Carnegie,Garry D.
Follow Accounting History
, Volume 10 (1): 129
SAGE – Mar 1, 2005
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