Accounting Standard Setting in the UK after 20 Years: A Critique of the Dearing and Solomons Reports
Accounting Standard Setting in the UK after 20 Years: A Critique of the Dearing and Solomons Reports
复制标题
英国会计准则制定20年后:对迪林报告和所罗门报告的批评
DOI:
10.1080/00014788.1989.9728850
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发表时间:
1989
影响因子:
1.7
通讯作者:
G. Whittington
中科院分区:
文献类型:
--
作者:
G. Whittington
The Accounting Standards Steering Committee (ASSC) came into being on 1st January 1970. This was preceded by a series of controversial events in 1968 and 1969, including the GEC-AEI and Pergamon-Leasco take-overs, which had shaken public confidence in financial accounting, culminating in the public controversy, in the columns of The Times, between Prof. Eddie Stamp (then of Edinburgh University) and Sir Ronald Leach (then President of the Institute of Chartered Accountants in England and Wales, ICAEW). It was the ICAEW Council which took the initiative in creating the ASSC.The ASSC was a self-regulatory private sector body, sponsored by the (then) three Chartered Institutes (the Irish and Scottish Institutes becoming members in 1970), dominated by accountants in public practice, and relying for its authority on its disciplinary powers over individual members of its constituent bodies who were preparers or users of accounts. The ASSC became the Accounting Standards Committee (ASC) in 1975; and in 1971 and 1976 other professional bodies were brought in, so that the Consultative Committee of Accountancy Bodies (CCAB) which controls ASC is now sponsored by all six of the leading accountancy bodies, the newcomers being the Certified Accountants (1971), the Management Accountants (1971), and the Public Sector accountants (1976)(all three bodies have obtained Royal Charters during the period, so that there are now six chartered bodies). There have been periodic reviews of ASC’s work, notably the Watts Report (1 98 l), which resulted in a widening of membership in order to relax the apparent grip of the auditing profession on the standard-setting process. However, the basic structure of a self-regulating professional body, constituted of part-time volunteer members, has