Accounting financial and monetary systems of various countries

Accounting is a valuable knowledge and taking an important role in market economy. In recent years, every transaction cannot exist without relying on accounting. Accounting is an organized process of identifying, recording, measuring, verifying information regarding financial situation and operation profitability.

Accounting knowledge is fundamental construction for financial and monetary systems of various countries and plays an important role to “oversee” to create the responsiveness and interpretation in economy. The high portfolio of fraud in which accountants and auditors, management level or executive level are involved, lead to the public confidence decreasing about honesty and trust of professional accountants. The main issues in accounting profession is official auditors have the exclusive advantage of legal audit and the responsiveness from public for this exclusive advantage. Via its special features, the profession as objectivity, integrity, keeping public interest protect the exclusive benefit. More and more criticisms on relationship between these features and professional behavior arise during the past 20 years. In a 20th century, the main concern related to ethical issues and ethics on accounting jobs but this claim is challenged by regulators, lawyers, investors, and stockholders.

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