Interest group politics and the licensing of public accountants

Article Abstract:

There is a tendency for restrictive licensing regimes to occur in states where there is a high strength of accounting interest groups. Pressure groups such as the American Institute of Certified Public Accountants (AICPA) and affiliated state organizations have attempted to set limitations on the use of professional titles such as 'accountant,' 'auditor,' and 'public accountant' by exerting their influence in both state legislature and in licensing boards. These efforts have resulted in restrictions regarding the use of professional accounting titles and in the accountants' right to reflect their opinions on financial statements. This limiting tendency is observed to increase as statewide competition between Democrats and Republicans increases.

Laws, regulations and rules, Accounting, Influence, Political aspects, Licensing agreements, Accountants, American Institute of Certified Public Accountants, Pressure groups, Special interest groups

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Public Pools: Down But Not Out

Article Abstract:

Public commodity funds as a whole had their worst performance ever in 1983. Only thirteen of the fifty- three public funds started since January 1, 1981 showed an increase, as of December 31, 1983, over their beginning unit value. The funds that operate on a risk management basis outperformed those that rely on trends in the market. There is still optimism surrounding the future of public funds. There are four specific reasons given by industry specialists for this optimism: history proves that a recovery usually follows a bad period, as a result of poor performance many fund managers are re-evaluating their strategies, fund managers are finding important new contract areas to enter, and investors still believe in the fund concept.

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Tight-Fisted Public

Article Abstract:

Although Americans seem to be saving more with Reagan's economic programs, the money is not being spent, much to the surprise of the government. The poor showing of capital investment has been blamed on the recession which is deeper and longer lasting than originally anticipated. Federal Officials counting on consumer spending to lead the way out of the recession will be disappointed for a while longer, at least until April 15, 1983 which is the deadline for investment in 1982 individual retirement accounts, which are expected to soak up quite a bit of money. The good news is that these increased savings can be used to help finance the huge federal deficit which is expected.

Economic aspects, Savings

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