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Does the Claim Hold Water?

Does the Claim Hold Water?

Bakker (2013) claims that ‘Accountants Will Save the World’ at the United Nations Conference on Sustainable Development in Rio. The author opines that by changing the accounting rules, the world will change. In particular, addressing the numerous business challenges, businesses must uphold transparency and consider the social benefits in the value of a company. While these claims encourage improvement of the accounting sector, they are utterly ambiguous and misleading. They hold no water. Changing the world means much more than just transforming accounting. An alternative explanation for the Bakker’s outrageous claims may have been the deep-sitting need to change the world of accounting in the face of the existing challenges.

In another article Korten (2001) argues that economic globalization is a partial tale of fantasy of humans and dream of people that want to build empires, and partially a tale of how money is transforming societies in ways that are of less concern to human beings. The subsuming statement is valid and seeks to enlighten people on the hidden agenda behind the growing need by certain institutions to economically globalize the world. Apart from the author’s explanation of the phenomenon, economic globalization is a product of quest by certain people to enforce the new world order, control markets, and amass more power and riches at the expense of the common citizens.

In the last article, Kaplan and Norton (1992) champion for their innovation, the balanced scorecard, which they note will facilitate business growth through giving managers a comprehensive view of the venture. Truly, the claim holds water, owing to the failures and limitations of traditional performance measures. Thus, an alternative explanation for the need for balanced scorecards that measures such as return on investment can result in flawed signals for incessant innovation and improvement.


Bakker, P. (March 05, 2013). Accountants Will Save the World. Harvard Business Review.

Kaplan, R.S. & Norton, D.P. (January-February, 1992). The Balanced Scorecard-Measures that Drive Performance. Harvard Business Review.

Korten, D.C. (2001). When Corporations Rule the World. Bloomfield, CT: Kumarian Press Inc.