Some Observations in Wyatt’s “Accounting Professionalism”

Excerpts from the Paper

Some Observations in Wyatt's "Accounting Professionalism"
ABSTRACT
This document discusses some observations made by Arthur Wyatt in his article entitled, “Accounting Professionalism: They Just Don’t Get It!” (2004). This article was originally published in Accounting Horizons and the document comments on some important points that Wyatt makes. These points relate to Arthur Anderson and pressure from clients, the influence of consulting firms, and the impact of principle-based standards relative to certification of financial statements.
OVERVIEW
The character of accounting within corporate America as well as the character of accounting firms themselves has changed dramatically over the past decade since Enron. Wyatt, in his article...

.....gly global environment where rules based accounting standards typically do not translate well across languages or cultures from one market to the next. Many proponents of principle based accounting maintain that because it encourages adaptability and flexibility while maintaining one of the most important aspects of financial reporting which is comparability.
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Williams, P. 2006. Principle Rules. Financial Director, June.
Wyatt, A. (2004). Accounting Professionalism: They Just Don’t
Get It! Accounting Horizons, 01/03.