range of ways of expressing these points.]
2 (a) Explain ‘the public interest’
Public interest concerns the overall welfare of society as well as the sectional interest of the shareholders in a particular
company. It is generally assumed, for example, that all professional actions, whether by medical, legal or accounting
professionals, should be for the greater good rather than for sectional interest.
Accounting has a large potential impact and so the public interest ‘test’ is important. Mrs Yeo made specific reference to audit
and assurance. In auditing and assurance, for example, the working of capital markets – and hence the value of tax revenues,
pensions and investment – rests upon accountants’ behaviour. In management accounting and financial management, the
stability of business organisations – and hence the security of jobs and the supply of important products – also depends on
the professional behaviour of accountants.
，我們將會(huì)及時(shí)處理。