ABSTRACT
Although it has been noted above that there was a measure of satisfaction with the CA29, this satisfaction was to be shortlived. Garrett (1961,p.158) records that:
The Act of 1929 was accepted as a balanced piece of legislation … A few years later a distressing event induced some people in the profession to wonder whether the Act should have gone further in prescribing the form and contents of balance sheets and profit and loss accounts.
