Accounting Services, the International Economy, and Third World Development

Accounting Services, the International Economy, and Third World Development

Accounting Services, the International Economy, and Third World Development

Accounting Services, the International Economy, and Third World Development

Synopsis

This book provides an understanding of the role of accounting services and the major multinational firms which supply them in the processes of economic expansion in the international economy and, more specifically, in the Third World. The study is unique in that it offers both accounting and economic expertise. Special features include a discussion of the growing role and impact of various accounting consulting services. In addition, it provides an analysis of the role of technology and a discussion of accounting in the context of multinational corporations. The book also offers important insights about accounting services for policies geared to economic development.

Excerpt

Not too long ago an editorial in The Economist proclaimed that "auditors are capitalism's handmaidens" (July 15, 1989, 18) and went on to suggest that "unless they [the auditors] provide and are seen to provide accurate, honest and impartial information on companies, the whole structure of competitive market economies will be threatened." Even stripped of its drama, that appraisal of the role of auditing in market- driven economies appears to be accurate. To continue to function effectively, such economies must have up-to-date, dependable financial records of where they have been. Only with such information can they attempt effective assessments of where they may be going and, with those assessments in hand, institute both private and public policies designed to assist them on their journeys.

In advanced nations the public accounting firms appear to be at center stage with respect to supplying auditing services. By exercising that supply function, they have joined various other business and financial service firms that have become the facilitators which appear to lubricate the operations of advanced business-oriented economies. In many cases accounting firms reach beyond their main auditing functions to provide tax counseling and various other managerial advisory services. In these latter endeavors they may also overlap (compete with) services provided by other types of practitioners. By doing so it appears as though they are strengthening their own positions while, at the same time, deepening their facilitative role in the economies in question.

The fact that services in general have come to dominate the labor force statistics of advanced nations will not be reviewed in the current investigation. The idea of service ascendancy is no longer controversial (Stanback et al., 1981; McKee and Bennett 1987; Cohen and Zysman, 1988; McKee, 1987). In the interests of conserving space, little attention . . .

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