R.J. Chambers collection: An archivist\u27s revelations of 20th century accounting thought and practice

A major, unique accounting archival source, the R.J. Chambers Collection comprises both hard copy and, utilizing cutting-edge search technology, internet accessible materials. From his academic beginnings, Chambers was an orderly person, an archivist of the extensive and varied evidence that underpinned his proposals for accounting reform. Opening research areas for accounting biography, the development of accounting thought, the history of accounting institutions, prosopography, public sector accounting history, and comparative international accounting history are foremost amongst the myriad justifications for seeking to unravel the accounting history lodes in archives such as the Goldberg, Chambers, and Briloff Collections [Potter, 2003]. The archiving of the meticulously kept Chambers papers from 1947-1999 provides an opportunity for unfolding the background to events previously withheld from accounting history scholars. Professional episodes in relation to inflation accounting, standard setting, proposals to reform accounting education, and the like that appeared prima facie to be worth investigating are now open to scrutiny from a different angle, with a different type of evidence available in this Collection. This Collection provides a high degree of archival provenance. In particular, it represents an orderly retention of past documentation of what Chambers wrote, and perhaps uniquely for accounting historians, received; thus, providing an extensive window from which to examine the disorderly present environment of accounting

Audit within the corporate governance paradigm: a cornerstone built on shifting sand?:a cornerstone built on shifting sand?

This paper is a case study-based investigation of aspects of the current paradigmatic approach to ‘good’ corporate governance with its focus on the interlinked roles of internal control and risk management procedures, internal audit and external audit, overseen and co-ordinated by a formal structure of board committees, in particular the audit committee. The evidence that we adduce from the study of four high-profile cases of perceived accounting and governance failure provides limited assurance that this approach will in fact be cost-effective or efficient in preventing further such cases of accounting and governance failure. Specifically, issues as to remuneration and fee dependence; lack of relevant knowledge and expertise; and social and psychological dependence upon executive management appear to have significantly and negatively affected the quality of decision-making of governance gatekeepers. This suggests that further consideration of relevant economic, institutional and cognitive/behavioural factors beyond the rational choice model of traditional economics should underpin future developments in required modes and structures of governance

Auditing as independent authentication

Within the accounting literature, 'independence' and 'independent verification' are associated more with the mental attitude, associations and practices of auditors than with the independent authentication of what is reported in dated accounts of the financial position and performance of firms. The conventional accounting wisdom confines 'independence' to the mental state of auditors and the nature of their associations with clients and client managers. 'Verification' is commonly interpreted by accountants to depict the customary activities of auditors who may be presumed to be independent in the conventional sense. The conventional accounting notion of independence is, therefore, confined to matters which may only properly be described as psychological and sociological. But, the grounds on which it is invariably supported and propagated, and the objects (whether stated or implied) of the prescriptions in which it is authoritatively embodied, are of a technical kind. They pertain to the demonstration and authentication of technical qualities in accounts. The character and demonstration of these qualities can not be disjoined from the character and function of independent testing. The conventional accounting notion of independence does not cause the Customary activities of auditors to be related to independent testing. The strictures imposed by it, as an 'intellectual groove', have blocked inquisitiveness in respect of the character of both independent testing and independent evidence; and have closed to inquiry the character of the present corpus of accounting rules. The application of these rules, in many instances, causes the products of the private judgments of managers to be included in conventionally prepared accounts. The veracity of the products of such judgments can not be determined or authenticated independently of the person or persons upon whose expectations, intentions or opinions they are based. To the extent that accounting data have the character of 'private knowledge', they can never be said to have been independently authenticated (or audited), irrespective of the integrity, ethics or expertise of auditors

Primary production inventories in a market selling price accounting system.

This essay is a study of the feasibility of the continuously contemporary accounting system proposed by_ Chambers, as it applies to the inventories of primary producers. To counter suggestions that the use of market selling prices represents a radical departure from accepted methods of valuing primary producers' inventories, the recommendations of the various accounting bodies in the U.S.A., U.K., and Australia are examined. This examination shows that market selling price is already a part of the present inventory valuation system. Further, the financial statements of a number of companies engaged in primary production are examined to determine the valuation methods‘ ' currently in use. This analysis indicates that the number of companies using current market selling price was increasing over the period examined. As a test of the feasibility of the continuously contemporary accounting system, consideration is given to the availability of price data on which to assess current market selling prices. An examination of the publications of several statutory and other bodies engaged in primary industry reveals the existence of the evidence required by Chambers' style of accounting for its implementation in respect of primary producers' inventories

A rejoinder to the commentaries on Professor Chambers' 1999 paper the poverty of accounting discourse

We thank the Editors of this Journal for encouraging this discourse and specifically for asking us to respond on Ray Chambers’ behalf to the four invited commentaries on his thought-provoking article ‘The Poverty of Accounting Discourse’. We are undertaking this task since Ray Chambers had an accident in September 1999 and died several days later of head and internal injuries. We were all colleagues of Chambers and were inspired by his work from the 1960s until his death. Were Chambers alive he would have willingly participated in this exercise, as the Forum provides another opportunity for accounting education and practice to be put under the microscope. The four Commentaries on Ray Chambers’ ‘Poverty’ mix positive and negative assessments. The most negative assessments of ‘Poverty’ appear in Tony Tinker’s commentary. Richard Mattessich’s commentary is negative, albeit tempered with some positives, whilst Joel Amernic’s is mixed and Tom Lee’s is extremely laudatory