ACCT 498 Lecture Notes - Lecture 13: Unintended Consequences, Accountant, Worldcon
3 Mar 2017
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Professionalism assignment: due monday, march 20th at 9 am, double spaced, 12-point font. Needs to be a printed copy handed in during class. The impact of these actions was to subject accounting firms to price competition from each other and fee pressure from clients. Standard-setting apparatus example the auditing standards board. Firm leadership must set a tone for their organizations that emphasizes the accountant"s public interest responsibility. Messaging from firm leadership alone in insufficient local office leadership must set a tone within their office that emphasizes the objective of serving the public interest. If promotion and compensation decisions are based solely on profit-making measures, younger accountants will focus their attention on these activities. Firms must provide a balanced set of objectives with a prioritization on work quality objectives. Firms can also promote professionalism through a continued emphasis on the importance of getting certified.
