On professional destabilization and accounting self-regulation
本文提出一个理论框架，分析会计行业因金融化等环境变化而面临的不稳定，以及职业团体如何重新定义可接受的会计行为，并通过加拿大省级估值咨询监管案例说明现有策略的不足。
The accounting profession faces significant upheaval due to numerous destabilizations in its environment, with financialization being particularly impactful. This paper introduces a theoretical framework to dissect how the profession reacts to such disruptions. We posit that destabilizations give rise to novel types of misconduct, leading professional bodies to re-evaluate their definitions of (un)acceptable accounting behaviours. However, the intrinsically nebulous essence of accounting's foundational logic muddies these recalibrations. This vagueness, when paired with evolving misconduct, undermines specific regulatory measures, possibly instigating further destabilization. Our proposed accounting destabilization and regulation framework is exemplified through a case study focusing on the emerging regulation of valuation advisory work – a service line that is emblematic of financialization – in a Canadian provincial jurisdiction. This case underscores the challenges the profession faces due to financialization, highlighting the current regulatory strategy that treats valuation work as a strictly technical process; an approach that we show is inadequate in mitigating valuation-related misconduct. The paper enriches the literature by introducing a novel theoretical framework for evaluating emerging challenges in accounting regulation, and by delineating the case study's repercussions for the evolving financialized landscape of the accounting profession.