ESSAY ON accounting profession

Feb 3rd, 2012
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Introduction In the current scenario of global financial crisis, interest in the role of accountancy profession in supporting the public value remains on the top. The method in which the accountants uses the accounting reporting and auditing standards has a considerable impact on the stability of financial markets. The accountants are highly motivated to fulfill the highest of ethical standards in all areas of their work. This determination is quite important in maintaining the confidence and promoting the public value. The individual professional and accounting bodies play a significant role in the formulation and implementation

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Accounting ProfessionName:Course Name:Date:IntroductionIn the current scenario of global financial crisis, interest in the role of accountancy profession in supporting the public value remains on the top. The method in which the accountants uses the accounting reporting and auditing standards has a considerable impact on the stability of financial markets. The accountants are highly motivated to fulfill the highest of ethical standards in all areas of their work. This determination is quite important in maintaining the confidence and promoting the public value. The individual professional and accounting bodies play a significant role in the formulation and implementation of consistent global professional and ethical standards in promoting the good corporate governance and supporting the development of economy through access to finance. The accounting bodies are directed to promote the public interest and add public value. For increasing the value of accounting profession, regular surveys are being conducted with the chief financial officers and finance directors of the leading companies, seeking their opinion on how public value can be delivered by the accounting profession and how it can be increased. The participants in these surveys are taken from across the globe i.e. from Africa, Asia, America, Australia, Western Europe, Eastern Europe, and Asia-Pacific.Current State of Accounting ProfessionThe accounting profession is the most trusted professio

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