ABSTRACT
Accountancy as a professional institution was established in Germany as a result of the shock of the financial crisis of the years 1931 and 1932, and particularly as a result of several big scandals, such as the collapse of the firm ‘Nordwolle’ and that of the ‘Fawag’ concern. Up to that time such an institution was absent from German business life. And yet what did exist prior to that time in similar institutions in Germany left its marks on the accountant’s profession.
