When we think about the formalisation of accounting in the United States, 1896 stands out. That was the year the first Certified Public Accountant (CPA) law was passed in New York, creating a recognised standard for professional conduct. I can imagine the sense of legitimacy it brought to accountants at the time - no longer just bookkeepers, but trusted professionals accountable to the public.
For me, the significance of this law lies in the way it established trust and reliability. Investors, regulators, and business owners could finally rely on financial statements that were certified to meet professional standards. It was a critical step in shaping the US accounting profession into something comparable to its UK counterpart.
I also see this as a moment that empowered accountants to influence business and governance. By creating formal recognition, the CPA law set a precedent for professional responsibility and ethical standards, principles that remain at the heart of accounting today.
Looking back, without this law, the US profession might have struggled to gain the credibility it enjoys today. It reminds me that the role of the accountant is not just technical - it is deeply tied to trust, integrity, and the stability of commerce.
