This course aims to enhance (using comprehensive case studies) competencies to evaluate critically the role of professional accountants in society and to reinforce notions of public interest and ethics. It aims to provide an overview of professionalization of accountants and history of accounting. It draws lessons from corporate scandals and the implications for the development of accounting standards and the profession. Based on the context of specific standards such as are share-based payments, employee benefits, revenue, IFRS for SMEs, the standard setting process is evaluated.