Pathways Documents

background documents and work in progress

This is a public committee  public

working document

    Bruce K Behn
    Preliminary Issue #1 Draft Value Proposition
    working document posted February 18, 2011 by Bruce K Behn, last edited February 10, 2012, tagged public meeting Feb 2011 
    1140 Views, 1 Comment
    title:
    Preliminary Issue #1 Draft Value Proposition

    Comment

     

    • James A Chyz

      1.      When I read “public interest” I think of capital markets and hence external auditors. This is not a surprise given that the Pathways Commission came from the ACAP. By definition, ACAP seems to be about Auditing. This leads to me to wonder why the broad term “profession” is used given the many roles accountants play in the economy. It is not until the third paragraph that the reader gets the feeling the Commission seeks to be more inclusive (see comment #4).

      2.      I agree that the reliability of accounting information is an important theme in the context of capital markets and the auditing profession.  I wonder if you could argue that other themes are equally important or more important in different contexts including relevance and/or timeliness for internal decision making contexts.

      3.       

      a.       Using the term “common language” followed by the phrase “enabling domestic and global markets to function” leads me to believe the Commission seeks to support the profession’s role in a transition to a set of international accounting standards. If this is the case, I’m wondering if it should be explicitly stated.

      b.      So this is the Anthropologist in me coming out: Do you need to define “society” before being able to articulate the parameters of the accounting profession’s social contract?  I think many Americans are ethnocentric and would tend to define their “society” largely by geography and American cultural norms. Other countries might welcome a broader definition of the society the accounting profession seeks to benefit, including one that has a varied collection of individuals who share an economic infrastructure.

      4.      The last sentence of this paragraph contains what I feel is a more inclusive definition of the accounting profession.  As noted in comment #1 above, it feels like the document initially focuses on auditors. I tend to prefer this latter more inclusive characterization of the profession.

      5.      Would you say that accounting educators are members of the accounting profession?  Is there any reason to articulate the role of accounting educators and how they fit into the accounting profession?