Abstract In England the emergence of the limited-liability company as the dominating force in economic life and indeed in public-accounting practice constitutes one of the major business phenomena of modern times. English auditing procedures are fundamentally the concern of practitioners themselves rather than of the law. Minimum requirements for the balance sheet are stated in the Companies Act 1929 and on file at Somerset House is a minimum amount of information in regard to all registered companies, which the public may utilize. English shareholders as a general rule receive more information than that filed at Somerset House. As auditors owe their primary duty to shareholders they are striving to arrive at a formulation of principles underlying the preparation of profit-and-loss accounts, and the accounts and statements of holding companies and their subsidiaries, since the law gives little definition of the principles to apply to these cases. If the profession can lay the groundwork in such matters the law can later embody these principles in amendments to existing legislation, if such a course in the view of all circumstances appears advisable. The English accounting profession endeavors to uphold higher standards than those set by the present laws in order that its protection of the rights of shareholders may be complete and effective.

Journal Article Wartime Concentration of British Industry Get access Mary E. Murphy Mary E. Murphy Hunter College Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 57, Issue 1, November 1942, Pages 129–141, https://doi.org/10.2307/1881816 Published: 01 November 1942

Abstract Reviews the book "The Design of Economic Accounts," by Nancy Ruggles and Richard Ruggles.

Reviews the book "Financial Administration in Local Government," by A.H. Marshall.

Reviews the book "Training Managers Abroad," by Jane Dustan and Barbara Makanowitzky.

Abstract The article assess the accomplishments of seven International Congresses of Accountants held to date. The first congress held in 1904 in St. Louis, Missouri sponsored by the Federation of Societies of Public Accountants in the U.S., must be attributed to George Wilkinson, an Illinois certified professional accountant (CPA) who was born in England, but spent his professional life in the U.S. The 1904 Congress was an ambitious event for the American accounting profession. It was held when The American Association of Public Accountants had a membership of only 140 scattered over 15 states, of whom 81 held CPA certificates. The Third International Congress was held in New York City in September 1929. Joseph E. Sterrett and F. van Dien, presidents of the earlier congress, served as Honorary Presidents, while Robert H. Montgomery held the role of President of the 1929 sessions. The 1952 Congress, convened in London, England, included about 80 CPAs from the United States. It exercised a constructive influence on international finance and commerce, and stimulated avid discussion and subsequent research on fluctuating price levels in relation to accounts, accounting requirements for issues of capital, the accountant in industry, the accountant in practice and in public service, and the incidence of taxation.

Abstract The article discusses professional accountancy in South America. In Argentina, at the present time, the profession is regulated by an act passed in March, 1945, by which those possessing a university diploma are entered in an Accountants' Register. Non-graduates also can be entered in this register, if they submitted an application in 1945 and were active as independent accountants before December 31, 1944. An accountant can serve in a public capacity only if his name was mentioned in the register. In Brazil, to follow the accounting profession, it is necessary to obtain a diploma from a recognized college, subject to inspection by the Ministry of Education. This diploma must then be registered at the Superintendence of Commercial Teaching and at the appropriate regional council of accountancy. In Chile, accountancy is in its initial stages as a profession. British Chartered Accountants established offices in Valparaiso as early as 1912, and branches have been set up in Santiago, Concepción, and other cities.

Abstract The first treatise on double-entry bookkeeping published in Dutch appeared in 1543. With the early foundation of bookkeeping in the Netherlands, it is surprising that the profession developed so slowly and so late. It was not until 1880 that the first public accountant's office was established there, but by 1905 there were four societies of accountants in existence. The oldest professional body is Het Nederlandsch Instituut dan Accountants, founded in 1895, with a membership originally divided into first and second class. The four professional bodies were amalgamated in 1934 under the title, Het Nederlandsch Instituut van Accountants, its headquarters is at Herengracht 491, Amsterdam. The Netherlands Institute was established on English lines, its founders having been especially influenced by The Institute of Chartered Accountants in England and Wales. In the early years, the accountant was regarded merely as an expert and confidential adviser to his client. In the course of time, attention was directed to the accountant's third-party relations.

Reviews the book "Proceedings of Convention."

Abstract This article focuses on comparative professional accountancy in Australia. The Institute of Chartered Accountants in Australia was incorporated on June 19, 1928, by a charter granted by King George V. It is the only body of accountants granted a Royal Charter outside the British Isles. Arms were assigned by the Earl Marshal of England on October 26, 1929. The Companies Act of one Australian State, Victoria, relative to prospectuses was tightened in 1955. The written consent of an expert is now required before his statements are included in a prospectus, if the prospectus indicates that application is to be made for listing of shares on the stock exchange, an allotment of shares will be void if permission for quotation on the exchange is not sought before the third day on which the exchange is open after the date of publication of the prospectus, or if permission has not been granted within six weeks of publication. The balance sheet must now contain a provision for income tax relative to the year ending on the date to which the balance sheet is made up, and the books of account must give a true and fair view of the company's affairs and explain its transactions.