ABSTRACT
In the period, 1928 to 1951, the public accounting profession attained many of the goals it had been seeking for several decades. This chapter discusses the significant movements in legislative influences and the court decisions of the 1930’s for their influences upon the development of the profession. For the protection of investors and businessmen, legislation to regulate the profession had been advocated for several years. In several states regulatory laws had been passed with the purpose of limiting the practice of public accounting to certified public accountants and registered noncertified public accountants. In the United States recognition and regulation of the public accounting profession is a function of state government. The responsibility of the public accounting profession has been extended by the re-emphasis on auditing occasioned by the enactment of the securities acts and the regulations of the Securities and Exchange Commission.
