What the members want

Article Abstract:

The Institute of Chartered Accountants of Scotland's (ICAS) Strategy Review was undertaken to ascertain the needs of ICAS members by surveying members in public and general practice. The survey results indicate that all respondents believe that the ICAS is too oriented towards the needs of members in public practice. Members want the ICAS to serve their needs and communicate effectively through its publications. Respondents in the industrial/commercial sector divided about the value of training outside of public practice, and while the majority are satisfied with the technical abilities of recently qualified chartered accountants (CAs), they do not like their lack of practical ability. The responses from general practitioners also reveal that small firms are encountering difficulty training CA students due to the great expense involved and would like to strengthen the ICAS' Recruitment Service.

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A single market for audit

Article Abstract:

The creation of a single European market underscores the importance of harmonizing the accounting standards of European countries. Companies need to be assured that the accounting principles and standards of information and reporting are analogous in all European Community (EC) countries. The International Federation of Accountants' International Auditing Practices Committee has created an international audit framework that can serve as the basis of an EC framework in the areas of auditing, review, and agreed-upon procedures. The accounting profession in the EC must ensure that confidence is not undermined by lower or different standards being adhered to by professionals in other countries.

Analysis, Reports, Accounting and auditing, European Union, International Federation of Accountants. Committee on International Auditing Practices, Single European market, European Community

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The changing role of the Institute as regulator

Article Abstract:

The aims, objectives, and history of the Institute of Chartered Accountants of Scotland are discussed as they relate to its current relationships with governments, national firms, and international corporations. The shortage of managerial talent in public practice and the impact of computer technology are new challenges to the profession, as are the legal forms of government regulation. Internal self-regulation is the best form of professional discipline, and should be among the concerns of future generations of accountants.

Standards

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