Describe the general development of financial accounting regulation in the United Kingdom from 1970 to the present day.

The role of financial accounting in today's business environment is undeniably important. The information provided by accountants can have major influences over a number of different people and parties, from a firm's management team, to an external investor. Here in the UK, we have a large and complex stock market system as well as broad based community of investors. As such, it is vital that the profession be properly regulated and monitored. The fundamental principle …

…ASB Web Site - http://www.asb.co.uk ACCA Web Site - http://www.accaglobal.com Accounting: An Introduction - McLaney & Atrill (1999) Alex Russell of the University of Minnesota's School of Management - http://www.csom.umn.edu/WWWPages/COURSES/ACCT/5310/UK.htm BBC News Online - http://news.bbc.co.uk International Accounting Standards Board Web Site - http://www.iasc.co.uk The Guardian Online - http://www.guardian.co.uk/