Economic Development And The Accountant

Press, Volume CIII, Issue 30389, 13 March 1964, Page 14

Economic Development And The Accountant

The greatest contribution accountants could make in the economic development of New Zealand would be to take part in, or encourage, an examination of the whole of the Dominion’s taxation system, said Mr B. Anderson to members of the Christchurch Accountant Students’ Society yesterday. Mr Anderson, a member of the council of the New Zealand Society of Accountants, said the main reason for such an examination would be to encourage productivity and the development of the country’s natural resources, instead of the situation at present Where high taxation was acting more as a deterrent. Although the value of production was increasing because of good overseas prices, the volume of production was not as high as it would be if greater taxation incentives or reliefs were offered. Mr Anderson, who was speaking on the future of the accountancy profession, said that the profession was flourishing today because there was a basic need for its services. However, he urged a greater concentration on wider training to cope with the higher degree of specialisation ahead in the profession. Computers had opened a vast field, but though there was a wide area for such mechanisation the trained accountant would always be needed to process and interpret the data put out by the machines. Training Methods In training methods In accountancy New Zealand was behind Britain and even further behind the United States. He considered the New Zealand training of the future would tend to follow the American pattern, with students trained in management and business administration as well as in accountancy. Although the profession was flourishing there had been some criticism. Recent spectacular business failures in Australia had caused per-

sons to ask whether accountants and auditors were carrying out theii- responsibilities properly. It needed only one or two more such failures before legislation would define the responsibilities of accountants and auditors to third parties and shareholders.

Mr Anderson presented the following trophies: Trial Debate Cup, (given by Miss N. Ives for public speaking), Mr N. C. Brown; R. J. McLaren Memorial Cup for student lecturettes, Mr R. Nevillson.