The development of professional judgment in Colombian Public Accounting
DOI:
https://doi.org/10.17533/udea.rc.n82a03Keywords:
Rational decision, professional judgment, decision making, principle-based model, rule-based modelAbstract
This study assesses the relevance of the rational decision theory in developing the public accountant’s professional judgment. Given the processes of regulatory change in Colombia and convergence with international financial reporting and assurance standards, the principle-based approach of this regulatory source has challenged not only the rule-focused professional practice but also the professional training system. Through theoretical assumptions of rational choice and decision that are projected and expanded from a behavioral economics approach, the financial reporting, assurance and accounting education standards are analyzed using computational methods. The goal is to provide a qualitative interpretation in response to the research question encouraging to significantly value this approach and consistently incorporate it into accounting education. Finally, some directions are offered for designing an accounting education model that responds to this approach to conclude on this issue.
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