The Public Interest from the Perspective of the Accounting and Auditing Profession: General Well-being vs. Private Benefit

The concept of the public interest appears in various jurisdictions and professional standards, but most is not defined, because it is considered as difficult describable category. In contrast, the profession of accounting and auditors has available tool, how implement public interest in the practice within the meaning of the general welfare. It is (so far only in the form of the proposal) IFAC publication A Public Interest Framework for the Accountancy Profession, whose content is parsed. The contribution also draws attention to the other two institutions, which, in the case of the public interest, make activities to the sustainable development. Their outputs support organizations in their efforts in this area by means of publications ISO 26 000: 2010-Guidance on Social Responsibility and the OECD Principles of Corporate Governance.