Influence of Self-Regulation in the South African Accounting Profession: Perspectives from Small and Medium Enterprises (SMEs) Owners and Professional Accountants

Main Article Content

Yaeesh Yasseen
Nerine  Stegmann
Freddie Crous

Abstract

This study investigated the way professional accountants and SME owners experienced the self-regulation of professional accountants within South African SMEs. Furthermore, this study adopts an interpretivist approach, and dispels why traditional positivist accounting methods have been unable to reveal and investigate the complexities within the SME environment. The key findings of this study were that self-regulation posed significant risk to public interest and the liability of the professional accountant, and resulted in role confusion. A significant contribution of this research is the concept of ‘implied assurance’ that emerged due to the self-regulatory environment. This paper is the first to explore the views and make recommendations on accounting policy reform. It also adds to scarce literature on the structure and functioning of the accounting environment within developing economies and SMEs in South Africa.


 

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How to Cite
Yasseen, Y.,  Stegmann, N., & Crous, F. (2020). Influence of Self-Regulation in the South African Accounting Profession: Perspectives from Small and Medium Enterprises (SMEs) Owners and Professional Accountants. African Journal of Governance & Development, 9(2), 619-647. Retrieved from https://journals.ukzn.ac.za/index.php/jgd/article/view/1582
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Articles
Author Biographies

Yaeesh Yasseen, University of Johannesburg and United Arab Emirates University

Dr Yaeesh Yasseen is a Professional Accountant (SA) and Certified Internal Auditor (USA) by profession.  He is employed as an assistant professor at the United Arab Emirates University.   His research area extends to the creation of value-added knowledge that fosters integrated thinking in the accountancy profession as well as its stakeholders.

Nerine  Stegmann, University of Johannesburg

Dr Nerine Stegmann is an associate professor within the department of accounting at the University of Johannesburg.

Freddie Crous, University of Johannesburg

Dr Freddie Crous is a professor and head of department of Industrial Psychology and People Management at the University of Johannesburg.