Reviewed by Bruce La Rochelle Concordia University

This is Edwards’ second collection of legislation of interest to the accounting historian, ostensibly complementary to Edwards [1980]. The most recent collection is primarily an edited collection of statutory provisions. It would appear to be of greatest use to the historian who is intimately familiar with the accounting and auditing developments of the period covered, who can clearly recognize and distinguish what has been included from what has been excluded. For others, the collection may be of limited use and quite possibly prejudicial as a research source, in that one must rely on the judgment of the editor as to the appropriateness and completeness of the extracts chosen. Such choice is acknowledged by the editor to be arbitrary [Introduction, p. 4].

Apart from the text of a 13-page introduction, editor Edwards has chosen to let the reader wade through in excess of 700 pages of statutory references, with no guidance whatsoever. The stated objective of Edwards is “to focus attention on the steps leading to new legal regulations”, relative to government attempts to regulate corporate developments and fraudulent activities by corporate promoters. Since no statute is discussed beyond a brief reference, at best, in the introduction, it is difficult for the reader to find the focus which Edwards intends.

The structure of the collection includes extracts relating to statutory companies (such as public utilities and companies in-corporated by Royal Charter or private act of parliament) in Volume 1, while extracts relating to registered companies (such as joint stock companies) are included in Volume 2. Included in the latter part of Volume 2 are examples of published accounts, without discussion, to illustrate compliance with the statutory extracts in Volumes 1 and 2. Some light is cast on the registered company extracts in Volume 2 by the inclusion of related re-ports by legislative committees; nothing comparable is found with respect to the extracts in Volume 1. With respect to the legislative extracts concerning registered companies, Edwards has chosen to include the first bill as well as the final legisla-tion, deliberately [Introduction, p. 7] leaving the reader to infer deletions between the first bill and the final legislation. The utility of this approach is unclear, in the absence of explanatory text. Of interest are those bills which did not result in legislation, such as bills to regulate financial malpractices in the railways. However, beyond mentioning that such bills are included in the collection, little, if any, information is provided as to why a particular bill did not pass.

For the more general historian, this book could be reworked, with parts of Edwards [1980], as an essential reference tool. This could be achieved by regarding what is here as a collection of documents requiring commentary and integration throughout. Alternatively, one could integrate what is here with an edited collection of articles, plus commentary. In a hoped-for second edition, Edwards might consider these suggestions, which are made with respect for the obvious time and care associated with the document collection.

REFERENCES

Edwards, J.R. (ed.), British Company Legislation and Company Accounts 1844-1976, New York: Arno Press (1980).