Accounting History current issue

Editorial

Carnegie, G., West, B. — 2008-04-29

Mary Addison Hamilton, Australia's first lady of numbers

Cooper, K. — 2008-04-29

The name Mary Addison Hamilton (Addie) does not appear in any of the recorded histories of the accounting profession in Australia even though there is ample evidence to suggest that she is deserving of such a place. Addie was one of the first women to achieve membership of one of Australia's recognized professional accounting bodies and, thereby, one of the first in the British Empire. This distinction was achieved in the early twentieth century, when restriction of women entering the professions was common. In addition, Addie achieved a permanent position in the public sector at a time when Australian women were traditionally denied such positions. This article is a celebration and acknowledgment of the achievements of this remarkable woman who worked tirelessly as a clerk in the public service while using her accounting skills to train new accountants and assist a number of charitable and not-for-profit organizations.

The origins of auditor liability to third parties under United States common law

Baker, C. R., Prentice, D. — 2008-04-29

This article traces the origins of auditor liability to third parties under United States common law, with a particular emphasis on the role of Benjamin Cardozo as Chief Judge of the New York Court of Appeals in the period from 1917 to 1932. Prior to the Ultramares decision, written by Chief Judge Cardozo in 1931, auditors were relatively shielded from liability against lawsuits brought by third parties (those who are not the client). In the Ultramares decision, Cardozo opened the door to a possible expansion of auditor liability to third parties through the introduction of a relatively new theory of law, that is that an auditor's negligence was heedless to such an extent that it was equivalent to fraud (that is, gross negligence). Subsequent to Ultramares, it appeared likely that the liability of auditors for negligent acts would be extended beyond their clients to the third parties who rely upon audited financial statements. However, because Ultramares has been interpreted in various ways in different jurisdictions, there has been ambiguity about the exact parameters of auditor liability to third parties under common law. Nevertheless, the Ultramares decision can be identified as the first instance in the United States where the courts opened up the possibility for third parties to sue auditors for negligent acts that were perceived to be so flagrant as to be equivalent to fraud.

Pacioli and humanism: pitching the text in Summa Arithmetica

McCarthy, P., Sangster, A., Stoner, G. — 2008-04-29

Despite the wide cross-disciplinary influence of Fra' Luca Pacioli's Summa de Arithmetica, Geometria, Proportioni et Proportionalita (Summa), it has been criticized as being both difficult to read and written in a mixture of bad Italian and bad Latin; but, paradoxically, intellectuals of Pacioli's day praised the style of writing in Summa. Can both viewpoints be correct? The answer to this question is sought by identifying what may have inspired Pacioli to write Summa in the manner he did. In doing so, the article considers the times in which he lived and, in particular, the impact that Renaissance Humanism and Humanist Education may have had upon his writing style. The article finds both views were correct in their own timeframes and contexts and that Pacioli's writing style was both an appropriate one with which to address a contemporary merchant society and one which would impress and gain the approval of his fellow humanist educators and patrons.

The biblical jubilee: old wineskin for a new wine?

Moerman, L. — 2008-04-29

In the Biblical Old Testament a religious framework, Jubilee Law, provides a mandated procedure for dealing with the indebted Hebrew and his property.¹ Emerging from Mosaic Law, this framework is based on alternative perspectives of stewardship and societal economic relationships to the current domination of neo-liberalism in supranational organizations, in particular the international financial institutions. Themes and concepts emerging from Jubilee Law can offer the critical accounting literature a theological lens to critique accounting in the current global arena, especially the debt crisis of poor countries. A theological perspective, grounded in laws that protect the economically vulnerable, provides an alternative emancipatory discourse which has resonated with activist groups and others, and which challenges and critiques contemporary economic practices and offers an ethical framework for mandating social justice.

Book review: Promise fulfilled: the history of the accounting discipline at the University of Melbourne, 1925-2004: Geoff Burrows Melbourne: Melbourne University Publishing, 2006, xv and 280 pp

West, B. — 2008-04-29

Book review: More than a numbers game: a brief history of accounting: Thomas A. King John Wiley & Sons, Hoboken, NJ, 2006, xiii and 242 pp

Napier, C. — 2008-04-29

Report: The fifth Accounting History International Conference

Buhr, N. — 2008-04-29