ABSTRACT
In the decade of the 1950’s the public accounting profession had to face some of the problems of a profession coming of age. The primary cause of the problems was the rapidity with which the independent certified public accountant’s role in the business community was becoming recognized. The influence of the Securities and Exchange Commission since 1933 was evident in the several suspensions of public accounting firms from practicing before it. Some of these cases is cited in this chapter. A significant development in the practice of the public accounting profession, which reached full bloom in the decade of the 1950’s, was the growth in the management services field. One of the developments of the 1950’s was the steady growth in cooperation between the public accounting profession and the banking fraternity. The decade of the 1950’s began with the conflict between the lawyers and certified public accountants in litigation and ended with the problem still unsettled.
