Subject Area

History

Description

The various shortcomings in accounting theory and practice during the 1920s directly led to a public outcry that prompted government regulatory efforts. This established a new precedent where the laissez-faire nature of the accounting profession that predominated in the 1920s succumbed to a new era in which the federal government had the power to regulate and guide the accounting profession. Although the government allowed the profession to self-regulate even after the passage of the Securities Act of 1933 and the Securities Exchange Act of 1934, ultimate authority over professional accountancy remained with the Securities and Exchange Commission throughout the following decades and into modern day.

Publisher

Providence College

Academic Year

2015-2016

Date

Fall 2015

Type

Article

Format

Text

.pdf

Language

English

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