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...The end:
.....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. REFERENCES Dettmer, J. (2002). Audit crisis casts pall over Wall Street. Insight on the News, 18, 15+. Waddock, S. (2005). Hollow men and women at the helm. Hollow accounting ethics?. Issues in Accounting Education, 20(2), 145+. Williams, P. 2006. Principle Rules. Financial Director, June. Wyatt, A. (2004). Accounting Professionalism: They Just Don’t Get It! Accounting Horizons, 01/03.