Reviewed by Robert H. Raymond University of Nebraska-Lincoln

This special issue is devoted to the history of the first 50 years of The Institute of Chartered Accountants in Australia, but several of the commentaries review the antecedents of the Institute and the profession in Australia. Nearly half of the issue is devoted to a care¬fully researched history of the Institute by A. W. Graham, National Registrar. A more complete history by him is to be released later in the year and, judging by the scholarship evident in this article, should be awaited eagerly by accounting historians.

Preceding Graham’s study is a series of messages, historical arti-cles, and short commentaries reflecting a variety of perspectives from the points of view of leaders in the Institute. All except one of the living past presidents submitted comments. Among the subjects that are discussed in several of the articles and commentaries are:

—The Institute’s royal charter — issued June 19, 1928 and the only charter granted to an accounting body outside Great Britain.
—Requirements for admission — since 1972 these requirements include a tertiary degree plus a professional year, conducted entirely by the Institute, that encompasses (1) a series of assign-ments on a number of specified topics, (2) compulsory atten-dance at sessions at which the assignments are discussed, (3) completion of a major essay, and (4) at year’s end an open book examination.
—Attempts to find a generally acceptable method of accounting for the effects of changing prices.
—Attempts to form an Australasian, as contrasted with Australian only, professional accounting body.
—Attempt to achieve integration with the Australian Society of Accountants.
—Background, accomplishments and problems facing the Ac-countancy Research Foundation — which presently is respon¬sible to a Joint Standing Committee comprised of the Executive Committees of the Institute and the Society.
—Influence of persons and events that culminated in Australia being one of the nine founding members of the International

Accounting Standards Committee and J. A. Hepworth becoming the present chairman of that body. —Specific impact of mini and micro computers, as well as the broad impact of computers, expansion of management services and demands on the auditor. —Where to go from here.

Four observations by authors of articles and comments in this jubilee issue serve to summarize its tone and perspective: The pro¬fessional accountant, and that term includes the academic, must lead the evolutionary process but he should not dominate it (p. 24). Expectations of the public have tended to outrun the current tech¬niques of the profession (p. 35). As late as 1957 the accountants’ early training left undeveloped to a great extent the ability to “tune in” to the human atmosphere in which accounts and figures now have to be used (p. 71). Examination of the past makes clear the cause and effect links which have shaped the profession (p. 36).