Institutional Comparisons

  • Jonathan R. H. H. Pockson


The purpose of this chapter is to analyse the powers of the regulatory institutions in both the US and the UK in order to assess their influence upon litigation. This analysis is confined to a description of the enforcement powers of each of the institutions over an accountant or accounting firm and the ways in which those powers are enforced. The chapter also highlights the differences between the two countries.


Stock Exchange Criminal Proceeding Disciplinary Action Accounting Firm Certified Public Accountant 
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  1. 2.
    J. C. Burton, ‘SEC Enforcements and Professional Accountants. Philosophy, Objectives and Approach’ 28 Vanderbilt Law Review 19, 19 (1975).Google Scholar
  2. 7.
    R. W. Jennings and H. Marsh Jr., Securities Regulation (3rd ed.) (New York: Foundation Press, 1972) p. 33 citing ‘The Work of the Securities and Exchange Commission’ published by the SEC, Nov. 1971.Google Scholar
  3. 25.
    L. H. Rappaport, SEC Accounting Practice and Procedure (3rd ed.) (New York: Ronald Press, 1972) pp. 27.11 and 27. 12.Google Scholar
  4. 57.
    See Pennington, Company Law (3rd ed.) (London: Butterworths, 1976) p. 585;Google Scholar
  5. also refer to Pennington, Company Law (4th ed.) ( London: Butterworths, 1979 ) pp. 610–15.Google Scholar
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    See C. Marley, ‘The City Code’, Part One of Stamp and Marley, Accounting Principles and the City Code — The Case for Reform ( London: Butterworths, 1970 ) p. 6.Google Scholar
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    J. Graham, ‘The New Takeover Code’, Accountancy 451 (June 1969).Google Scholar
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    D. A. Scott, ‘Enforcement of ethical standards in corporate financial reporting’. Included in J. C. Burton (ed.), Corporate Financial Reporting: Ethical and Other Problems. A Symposium ( New York: AICPA, 1972 ) p. 111.Google Scholar

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© Jonathan R.H.H. Pockson 1982

Authors and Affiliations

  • Jonathan R. H. H. Pockson

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