Abstract The article focuses on a comparative study of certain accounting institutions and practices in England and the U.S. The knowledge that the average accountant possesses of his profession is almost exclusively restricted to institutions, principles and procedures in his own country. The fact that relatively little research has been done on the subject of foreign accounting is cause for some concern. Areas of accounting and auditing in the U.S. and in England, which were selected for comparative study were: the legal position of the profession, codes of professional conduct, the professional examinations, professional education, objectives of auditing; and audit programs for inventory and for accounts receivable. An evaluation of major aspects of these areas concluded the study. In England, three methods have been adopted for admission into the professional accounting institutes: under articles of clerkship, under bylaws of institutes; and under the university scheme. In the U.S., admission to the practice of public accountancy is regulated by state law.
James S. Schindler (Thu,) studied this question.