History of Accounting Firms

Accounting firms have been around approximately as long as accounting has been in general. The reason for this is that the importance of accounting to the owners of a business is so heavily dependent on trust that without an external party to validate the numbers are correct, then, depending on the size of the company, as few as thousands or as many as trillions of dollars could be at stake. Similarly, once the tax code became increasingly more difficult to understand throughout history, people began to hire accounting firms to perform their tax work for them in order to reduce the amount of taxes they owed as well as prevent fines from government agencies.

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