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The aim is to discuss the increasing demand for reforms in the accounting profession in light of past failures.

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The aim is to discuss the increasing demand for reforms in the accounting profession in light of past failures.
Opinion piece analyzing public sentiment regarding accounting reforms.
Examination of specific failures in savings and loans.
Discussion of the criticisms directed at the Financial Accounting Standards Board.
Growing public demand for changes in the accounting profession identified.
Highlighting failures of the savings and loan sector as a catalyst for reform.
Criticism of the Financial Accounting Standards Board reflects broader concerns about industry standards.

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Opinion emphasizes the demand for reforms in the accounting field amid significant failures and criticism.

A.A. Sommer Jr. (1990) studied this question.

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