Review and Conclusions

The CA48 was to directly influence accounting practice for more than thirty years after its enactment. Its provisions reflected the generative process that led to its enactment and the social interaction that shaped its form and content thus became crystallised in its provisions, shaping and governing accounting practice through the succeeding decades. The generative process that led to CA48 therefore is not just of passing interest, redundant upon the passing of the Act. It is reflected in the Act and an understanding of the provisions of the Act, and thus of the practice governed by it, is dependent upon an appreciation of that generative process.