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Why Are Certified Public Accountants Important to the Accounting Industry, and Why Their Role Is

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Why are Certified Public Accountants Important to the Accounting Industry, and why their role is Important to Business, Industry, and Society? Virginia Commonwealth University Writing and Rhetoric April 15, 2011

Why are Certified Public Accountants Important to the Accounting Industry, and why their role is Important to Business, Industry, and Society?

CPAs became prominent after the 1800s when America started into the industrial era. They mainly did the basic bookkeeping for businesses at that time. As the industrial age grew and the government started to impose taxes, CPAs became more important to businesses as they now had to handle the filing of taxes for businesses. Although many people don’t see how important CPAs are to business, industry, and the economy, as well as, society. With the many changes over the centuries that government and CPA societies have put on CPAs, there have been some big changes in educational requirements, as well as governmental regulations. But in today’s society ethics has become the biggest problem that CPAs have to deal with and yet have more control over in the economy, and especially in business and industry. History has shown just how business and industry has needed CPAs, from controlling payroll and taxes, auditing accounting journals at the local mom-and-pop stores, to auditing financial papers of big corporations in order to let the investors at banks and Wall Street have some sort of an idea of how sound a Corporation is. America moved from an agricultural to an industrial society, creating a complex society requiring the knowledge in a year great insight. Talks about the efforts to organize the profession first in New York City in 1896, and in 1921 the passage of the New Mexico law helped to create the accounting profession to every state in the nation. In the 20s the...

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