Reviewed by Jan R. Heier Auburn University at Montgomery, Montgomery, Alabama

In 1854, William Cooper left the London firm Quilter Ball and Company where he had apprenticed as an accounting clerk. He rented two rooms at 13 George Street in a building called Mansion House and opened his own practice which he simply called “William Cooper.” This seemingly insignificant moment of history marked the beginnings of the international accounting firm of Coopers and Lybrand. This volume, A History of Cooper Brothers & Co.: 1854 to 1954, represents a chronicle of events of the English accounting firm of Cooper Brothers and Co. before its merger with the American accounting firm of Lybrand Ross Brothers and Montgomery. The history of the American side of the firm was presented in a book entitled The Early History of Coopers and Lybrand published by Garland Press in 1984.

From the beginning, Cooper Brothers was a family opera-tion with William as the managing partner, and brothers Arthur, Francis, and Ernest acting in a partnership capacity during the first fifty years of the firm’s existence. William’s six other brothers and sisters also worked for the firm but were never made partners. It was not until 1872 that a nonfamily member, Edward Fletcher, was admitted to partnership in the firm.

The firm’s accounting activities during these early years were concentrated in the area of bankruptcy and the liquidation of joint-stock companies. The experience gained and contacts made by the firm proved to be invaluable when the British Parliament passed laws that mandated annual audits of joint stock companies. Two of England’s most prominent companies, Unilever and the British South African Company (DeBeers), became clients of the firm at this time.
The firm grew rapidly to meet the demand for their services by merging with local firms in virtually every part of the British Commonwealth. The book’s short histories of the firms that Cooper Brothers had merged with provide some very interesting insights into the development of the accounting profession throughout the world. Of particular interest are the histories of accounting firms on the African continent. The development of the accounting profession in Africa is a subject which had not been researched to any extent and about which this book provides an excellent base of information. Finally, Cooper Brothers opened its first office in the United States in 1926, and became affiliated with the firm of Scovil, Wellington and Co. in 1948, or about nine years before it merged with Lybrand, Ross Brothers and Montgomery in January 1957.

The book pointed with great pride to the firm’s involvement in the development of the accounting profession in England through its chartered membership and leadership in the British Institute of Chartered Accountants. In addition, it pointed with even greater pride to the leadership that the firm took to help the British war effort in both world wars. Again, very little research has been focused on the effect of the world wars on the accounting profession.
This short history also furnished the reader a unique view of an accounting firm at the turn of the 20th century. The biblical writer of the Book of Ecclesiastes was correct when he wrote that “there is nothing new under the sun,” especially when it pertained to the staffing problems of an accounting firm. For example, the book noted that many young accountants came to Cooper Brothers to clerk, learn the profession, and gain experience toward their certification before they moved on; very few became partners. The problem of turnover still plagues the modern accounting firm.

It was noted that long hours and high standards were required of the staff; however, for those who worked overtime, a lunch of bread and tea was provided. According to the book, it was customary for the accounting staff to wear high stiff collars, black coats, and striped trousers; no doubt the forerunner of the grey pinstriped suit that is so common among modern accountants. The division between staff and partners was quite apparent, with the book presenting a short discussion about the younger staff members enjoying “smoke concerts” at local stock companies. Two of England’s most prominent companies, Unilever and the British South African Company (DeBeers), became clients of the firm at this time.

The firm grew rapidly to meet the demand for their services by merging with local firms in virtually every part of the British Commonwealth. The book’s short histories of the firms that Cooper Brothers had merged with provide some very interesting insights into the development of the accounting profession throughout the world. Of particular interest are the histories of accounting firms on the African continent. The development of the accounting profession in Africa is a subject which had not been researched to any extent and about which this book provides an excellent base of information. Finally, Cooper Brothers opened its first office in the United States in 1926, and became affiliated with the firm of Scovil, Wellington and Co. in 1948, or about nine years before it merged with Lybrand, Ross Brothers and Montgomery in January 1957.

The book pointed with great pride to the firm’s involvement in the development of the accounting profession in England through its chartered membership and leadership in the British Institute of Chartered Accountants. In addition, it pointed with even greater pride to the leadership that the firm took to help the British war effort in both world wars. Again, very little research has been focused on the effect of the world wars on the accounting profession.

This short history also furnished the reader a unique view of an accounting firm at the turn of the 20th century. The biblical writer of the Book of Ecclesiastes was correct when he wrote that “there is nothing new under the sun,” especially when it pertained to the staffing problems of an accounting firm. For example, the book noted that many young accountants came to Cooper Brothers to clerk, learn the profession, and gain experience toward their certification before they moved on; very few became partners. The problem of turnover still plagues the modern accounting firm.

It was noted that long hours and high standards were required of the staff; however, for those who worked overtime, a lunch of bread and tea was provided. According to the book, it was customary for the accounting staff to wear high stiff collars, black coats, and striped trousers; no doubt the forerunner of the grey pinstriped suit that is so common among modern accountants. The division between staff and partners was quite apparent, with the book presenting a short discussion about the younger staff members enjoying “smoke concerts” at local taverns after work with the entertainment centered on the singing of comic songs about work and the partners. As a final note on staffing, it was not until the manpower shortages caused by the First World War that women began to work as staff accountants and auditors with any regularity.

At first glance, this history of Cooper Brothers and Company was a very traditional review of the development of an international accounting firm, which discusses the firm’s early clientele, its growth through mergers and the lists of partners, both in England and abroad, that made up the firm. However, a further reading provides a fascinating tale of how the accounting houses of England evolved from the practice of overseeing bankruptcies into a very respectable profession during the late 19th and early 20th centuries. In addition, the book provided interesting anecdotes about the life in a “turn of the century” accounting firm. Finally, the book provided excellent base information in areas of accounting development and history that have not been researched extensively, such as the development of the profession in Africa and the effect of the two world wars on the accounting profession.