By Jodie Mitchell, published 15 December 2025
The origins of auditing, accounting and taxation date back to the earliest organised societies, where managing resources, recording transactions and ensuring fairness were essential to governance and trade. In ancient Mesopotamia, Egypt and China, written records were used to track grain, labour and payments to rulers. These early accounting systems were closely tied to taxation, as governments relied on accurate records to assess and collect dues. Auditing, in its earliest form, emerged through trusted officials who reviewed records to prevent fraud and mismanagement. At Sheridan Maine, we recognise that today’s practitioners are engaging with a profession that has evolved over millennia and is built on a deeply rich tradition.
Accounting became more formalised during the medieval period, particularly across Europe, as commerce expanded. A landmark moment came in 1494 when Luca Pacioli published his work on double-entry bookkeeping, establishing the principles that underpin modern accounting. This method enhanced accuracy and transparency, making it easier to verify financial records and laying the groundwork for structured auditing. In England, the Crown applied accounting and audit practices to manage royal finances, while taxes such as land levies and customs duties became more systematic to support government and military needs. This continuity highlights the enduring strength and importance of the profession that today’s accountants inherit.
Modern auditing, accounting and taxation took their current forms during the Industrial Revolution and the rise of nation states in the eighteenth and nineteenth centuries. Expanding businesses required independent audits to reassure investors and regulators, while governments in both the UK and the USA introduced formal tax systems, including income tax, underpinned by professional accounting standards. At Sheridan Maine, we acknowledge that those practising in this field today are immersing themselves in a well-established profession with a rich and enduring legacy - one that continues to evolve while remaining rooted in principles of trust, accountability and public confidence.
