Professionalization In The 19th Century

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The United Kingdom was the center stage where the process of professionalization started in the mid to late 1800s. The commonwealth nations at large were responsible for the professionalization of the accounting profession. The establishment of the meaning of profession is important before assessing the question addressed by this essay. Profession is an occupation requiring mastery of a complex set of knowledge and skills through formal education that is governed by a body. The legal and economic conditions of the time have to be understood to understand the background of the professionalization process as a whole. During the early nineteenth century, technological innovations grew exponentially and as a result, limited liability was introduced…show more content…
Education, standards pertaining to the character of the individuals, having a body of knowledge, code of ethics are all the factors that the commonwealth countries utilized during the nineteenth century to professionalize accounting practice. The accountants of the time had to create an image of value to the accounting practice. To control the number of individuals who wanted to join the profession, education was put in place. Kedslie (1990) informs us that the Scottish professionalization was improved by entry, education, examination and training requirements. This resulted in the number of institutionalized members being directly influenced and controlled as well as creating the impression that accountancy is an occupation with high standards because it had to be studied for. The Council also had to ensure that standards are met to regulate…show more content…
During the mid-1800s the proposed bankruptcy law changes became a threat to the community of accountants who had to react to protect their economic self-interest. They then petitioned Queen Victoria to form The Society of Accountants in Edinburgh which they highlighted that it would work in the interest of the public at large. They sought legitimacy in royal charters. This enabled the formation of institutions which had royal permission to self-regulate professional accounting and to describe their members as chartered accountants. From thenceforth Chartered Accountants were regarded as elite
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