Therefore an indigenous accounting profession did not evolve in this period either and no accounting or audit rules were established" (2000, p. 16). In this free-for-all environment, it is difficult to discern any influence from the French accounting profession, except to the extent that its transactions involved the international community where certain documentary practices must be followed in order to conduct international commerce. For example, according to a contemporaneous analysis of the accounting profession in Cambodia by Steinberg (1959), the National Bank of Cambodia "still uses the French Union Stabilization Fund in Paris as a funnel for many of its foreign exchange transactions; the dollars Cambodia receives under the United States aid program are not kept in the Fund, but are controlled directly by the National Bank" (p. 191). At the time, the Cambodian National Bank's arrangements with the money market in France were administered by the Banque de France...
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