The legal environment of the accounting profession
O'Brien, Christine N. “The legal environment of the accounting profession”. North Atlantic Regional Business Law Review, 1986. http://hdl.handle.net/2345/1484.
This article outlines the expanding liability of accounting professionals, from just common law, to statutory law, the Foreign Corrupt Practices Act, Accounting Standards, and finally, criminal liability. The author assesses the costs of these layers of regulation to accountants and how this extra regulatory oversight impacts practitioners. The author considers the litigation and increased administrative regulatory activity as examples of this trend and details the associated costs for this litigation explosion.