The Aims And Operation Of The Institute Of Chartered Accountants Of Ontario

Author : Henry Lye
Publisher : Forgotten Books
ISBN 13 : 9781528142991
Total Pages : 32 pages
Book Rating : 4.1/5 (429 download)

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Download or read book The Aims and Operation of the Institute of Chartered Accountants of Ontario written by Henry Lye and published by Forgotten Books. This book was released on 2017-10-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Aims and Operation of the Institute of Chartered Accountants of Ontario: An Address in Connection With the New by-Laws of the Institute The grouping of incongruous items, the consolidation of assets bearing different proportionate values, and the insertion of balances of diverse ac counts, instead of the clear statement of the debits and credits, are designed for the purpose of preventing their constituents, their shareholders, their rivals and the public from all knowledge of the real working of their institu tions, and yet we, day by day, see these reports, so prepared, vouched for by persons who subscribe themselves as auditors and accountants, to the in finite disgust of those who believe the duties of an auditor to be of more con sequence than his fees. The theory of accounting and auditing is the faithful record and the plain exposition of facts. The theory of the management of too many public companies is that the shareholders and directors should place im plicit Confidence m their manager, and that they should not in any manner question or interfere in his views and instructions; consequently it is too often the case that an auditor is selected who will carefully refrain from criticism of methods of accounts which the book-keeper or accountant has followed solely in compliance with instructions, although against his conscience and better knowledge. In most of our municipalities the auditing is of the most perfunctoryand delusive description even. When it happens that the auditors are com petent, as is seldom the case, they are painfully aware of the fact that the treasurer does not keep proper books of account, or does not keep his accounts distinct from each othe1, o_r, whilst occupying several positions of trust, does not keep the funds distinct from each other, or that he uses the moneys of the municipality for his own prlvate purposes; yet these auditors complain not, nor find fa-, ult because somebody 1s always somebody s cousin or wife, or somebody 1s a good fellow anyway, or he IS a fighting man who would sue them for libel or annoy or injure them in some other manner. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.