ABSTRACT
The way to gain insight into the vexing and unsettled questions connected with the responsibility of accountants is to approach the subject from an historical perspective. It will become evident that history repeats itself and that most of the basic problems considered by accountants now are also those which have perplexed the profession for nearly a century. Despite all the changes in the business environment, controversy within the accounting profession today has remarkable similarities to the discussion taking place decades ago. The last two decades of the nineteenth century were a 'golden age' in accounting and most of the major issues connected with the subject of the accountant's responsibility was brought out in the period. Questions concerning full disclosure, alternative techniques, scope of audit and the meaning of the audit certificate were widely discussed in the first few years after the profession was formally established.
