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THE ANALYSIS OF EUROPEAN COMPANY ACCOUNTS
Author(s) -
Clay J. P.
Publication year - 1962
Publication title -
jcms: journal of common market studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.54
H-Index - 90
eISSN - 1468-5965
pISSN - 0021-9886
DOI - 10.1111/j.1468-5965.1962.tb01054.x
Subject(s) - obstacle , audit , shareholder , law and economics , economics , accounting , political science , law , finance , corporate governance
SUMMARY Numerous details have been given here of the faults (in English eyes) to be found in European accounts, and of the progress that is being made towards overcoming them; but the greatest obstacle to progress is undoubtedly psychological—the failure of many in the financial world to realize that it is desirable for accounts to be accurate, comprehensive and clear. At Courchevel the European analysts discussed with interest the normal English auditors' report, whch attests that the accompanying accounts give ‘a true and fair view’; one remarked admiringly, ‘The English bring sport into everything: even a shareholder must have a fair chance, as though he were a fox’. This attitude, or somethmg like it, is becoming more widespread, but it is still far from universal; until it is more nearly so, it must be expected that progress will continue to be slow.