Every year between July 1 ( Canada Day) and July 4 ( USA Independence Day) I think a little about how the differences between our two countries are reflected in Accounting research and practice. I know, only an academic accounting nerd would ponder this question but it is interesting in light of the broader geopolitical environment.
How did Canada, which was founded based on allegiance to the British crown, become so accepting of diversity in accounting research (and other areas) whereas the USA became so monolithic in its devotion to financial economics?
How did Canada founded on the precepts of “peace order and good government” take seriously the need to constructively critique our accounting and auditing institutions ( Among others) whereas the USA founded on the precepts of ” life, liberty and the pursuit of happiness” became the home “of if it is not done here it cannot be done right” (e.g. FASB, PCAOB etc)?
How can a country born out of revolution (the USA) to established authority from beyond the seas (the UK) take it upon itself to establish its authority beyond its borders in the regulation and inspection of public accounting?
Every year I try not to be smug, it does not work I know but I try, but I remember Americans as individuals are kind, considerate and open people even if their institutions and leaders suggest otherwise! Happy Canada Day and a shout out to the ” Glorious Fourth” for our once (and hopefully future) friends to the south (and if you look carefully on a map to Kkingston’s Northeast!).