Current Developments in the Public Accounting Profession.

Abstract In this article the author discusses about the importance of American Accounting Association for accounting institutes. The author shares that the association has grown rapidly in size and in prestige. It represents an intellectual influence in accounting far greater than mere relative numbers would indicate. He proposes that in any event, the nature of accounting profession, along with that of medicine and law, is such that universities will be the main reliance for organized, methodical teaching of technical subject matter. This is one reason why the universities and the teachers of accounting are increasingly important to practitioners. He further adds, that another reason why this association is important to the institutes of accounting is that it helps in dealing with a variety of problems. The demands for the services of certified public accountants have widened more rapidly than most of us foresaw. At the same time, the quality of the service has increased in depth. Consequently, the belief as to what is true regarding the profession's growth can easily lag behind the dynamic reality.