Study Decries ‘Myth’ of Public Interest

Huber
Huber

Call it what it is, ‘market interest,’ author argues.

By CPA Trendlines

The accounting profession’s governing establishment is actually a cabal of industry and government designed to thwart – instead of protect – the public interest, a new study asserts.

“The public interest is proven to be a myth, a construct created to disguise what interest the public accounting profession, and the associated governmental and private regulatory and standard-setting bodies actually serve and protect – the market interest,” says the author, Wm. Dennis Huber of Cappella University.

In critically analyzing the language of the missions, charters, statutes and legislative findings of auditing and accounting standard-setting bodies and government regulatory agencies, Huber found that “the public interest” as professed by these organizations is “plagued by significant inconsistencies, contradictions, and conflicts.”