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Mediating Interests: The Accountancy Bodies' Responses to the McFarlane Report

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  • Anthony Puxty
  • Prem Sikka
  • Hugh Willmott

Abstract

There is now a considerable literature on the significance for accountants of their being accepted as a profession. The claim that they have regard to ‘the public interest’ in their activities is a central feature of the accountancy bodies’ claims to being accepted as a ‘profession’. This, they argue, distinguishes them from trade associations and trade unions. The claim is significant for both their economic and symbolic value. This paper examines the accountancy bodies’ claims by examining their responses to the 1992 publication of a discussion document The Future of Auditing by the Auditing Practices Board. Responses by four major professional bodies are analysed in detail. It is concluded that most of them do not attempt to redeem the claim to have regard to the public interest. Instead, they are mainly concerned to promote their members' private interests, frequently by advocating policy measures that will advance their own members' interests at the expense of those of other accountancy bodies. The significance of the contradiction between the transparency of this advocacy and the considerable effort expended in claiming to act in the public interest is discussed.

Suggested Citation

  • Anthony Puxty & Prem Sikka & Hugh Willmott, 1997. "Mediating Interests: The Accountancy Bodies' Responses to the McFarlane Report," Accounting and Business Research, Taylor & Francis Journals, vol. 27(4), pages 323-340.
    • Handle: RePEc:taf:acctbr:v:27:y:1997:i:4:p:323-340
    DOI: 10.1080/00014788.1997.9729558
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    References listed on IDEAS

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    1. Sikka, Prem & Willmott, Hugh, 1995. "The power of "independence": defending and extending the jurisdiction of accounting in the United Kingdom," Accounting, Organizations and Society, Elsevier, vol. 20(6), pages 547-581, August.
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    Cited by:

    1. Valorie M. Leonard & Charles H. Bélanger & Leslie J. Wardley, 2016. "Examining the Ethical Behavior of Ontario Chartered Accountants: A Longitudinal Review of the Disciplinary Process," Accounting Perspectives, John Wiley & Sons, vol. 15(3), pages 169-199, September.

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