Buy custom The Accounting profession and its Obligation to Society
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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 714 |
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But the accounting profession was not built this way. Accountants are conditioned to serve their clients needs above all else. Have you ever seen an audit report that refers to the firm's performance with regards to the community?
In Ladd's book, he argued that the corporate community is growing so large it has become a great influence over nations, and because they are growing so large they are beginning to influence governments and industries ? as a result affecting the lives of a huge chunk of the nation...
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Because of this Ladd believes management's responsibilities should be extended beyond simply looking after the needs of the shareholders to enveloping the public's interests as well. This emphasises the greater scope of accountability which has become a core issue in accounting in recent times.
As the modern industry has turned the stock market into a huge influence over the actions of corporations, the traditional shareholder's role has also evolved...
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