Considering the high-sounding ‘objects’ clauses of the various accountancy bodies, the readers might suggest that attempts be made to endow a Chair of Accounting Theory in the British capital. In recent years some stout-hearted efforts have been effective in showing that there is a wealth of material available should the readers decide to claim for accountancy significance proportionate to its real worth to the community. For this purpose the voluntary efforts of a few who can find it convenient to attend meetings of University Accounting Research Association are not enough. The lack of democratic representation in the various accounting bodies is less stressed, but equally serious. In two recent amalgamations the principle whereby members of the governing body must be drawn from selected class was firmly asserted—and it is bad principle. The public must be protected by a State register of accountants in whom it will come to trust, and whilst this enhancement of the profession of auditing is desirable.