Accounting Principles: United HealthCare

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Introduction While the United States was not the only and probably not even the first country where an interest in international accounting issues arose, it was probably ahead of others in developing a research infrastructure in the area. The AICPA, following the 1962 international congress, took a first step. The Institute's executive director, John L. Carey, later wrote, 'Through a reactivated Institute committee on international relations, a vigorous program was undertaken to encourage inter- national co-operation among professional accountants, to improve exchange of information, and eventually to agree on common standards: z3 All of the Big Eight accountancy firms were represented on the committee. In 1964, the committee published a thick volume, Professional Accounting in 25 Countries (Lev, 2003). The Big Eight firm partners had called on their offices around the world to draft chapters that included sections on the organized accountancy profession, auditing standards, and accounting principles and practices. It was the first such volume to be produced by a professional accountancy body. In its Introduction, the committee referred to the demands for 'improvement and greater uniformity in international accounting and professional standards ... which were voiced by many participants in the Eighth International Congress held in New York in September 1962'.? The committee added that such a need was also 'expressed by representatives of international financing and
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