The accounting profession in times of financial crisis

Ghislaine Garmilis ()
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Ghislaine Garmilis: IMT-BS - DEFI - Département Droit, Économie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]

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Abstract: The purpose of this article is to get an understanding of the role of the disciplinary process in the accounting profession's quest for legitimacy. Through the professionalization process, accounting organizations developed specific attributes, leading to government's recognition and delegation of rights and duties. In counterpart for autonomy, the accounting profession has to serve the community. This implies to discipline its members, were they to disserve the public interest and discredit the image of the profession in assuming its duties. This paper studies the disciplinary proceedings of accounting organizations in both France and the United States. It helps conclude that the accounting profession tends to meet the expectations from its economic and financial environment. The importance of the disciplinary mechanism in the quest for legitimacy is especially highlighted in times of financial scandals.

Keywords: Profession; Accounting; Legitimacy; Financial crisis; Discipline; Misconducts; Sanctions (search for similar items in EconPapers)
Date: 2011-03-10
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Published in 6th International Finance Conference on Financial Crisis and Governance, Mar 2011, Hammamet, Tunisia

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02413393

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