Some Problems of the Last Three Years

Abstract

This address was delivered at the Annual Meeting of the American Society of CPAs in Indianapolis, Indiana on Wednesday, September 28, l932. It was subsequently published in The Certified Public Accountant, (Durand W. Springer, editor) in Volume XII, No. 10, October 1932, pp. 587-592. Carter, a West Point Graduate, later testified before the Senate Banking Committee hearings in March 1933 regarding proposed securities legislation which was later enacted. In particular Carter presented the arguments for the need for audits by independent public accountants. At this time he was President of the New York State Society of Certified Public Accountants and Senior partner of Haskins & Sells. Carter's view of the world, prior to his important Senate testimony is not readily available. This paper provides an insight into the issues and concerns which he identified during the early years of the 'great depression' prior to his historical testimony in l933, which preceded the passage of the securities acts. This item was scanned by Mrs. Songtao Mo and edited by Professor G. J. Previts of Case Western Reserve University.

Keywords: AICPA, Securities Legislation, Senate Banking Committee Hearnings, Arthur Carter

JEL Classification: M49, M41, G38, K22