Is Governmental Regulation of Accountancy Necessary?

Abstract

This report contains an examination of the Senate document, "The Accounting Establishment", which calls for extensive governmental regulation of the accounting profession. It examines ten major points presented in the Senate document in an attempt to support or refute the document's recommendations. It attempts to present views from both sides of this controversial issue and to base its conclusions on emperical evidence, where such evidence exists. The report concludes with a list of alternative recommendations which the writer feels are workable and in the public interest.